<SEC-DOCUMENT>0001213900-25-099693.txt : 20251017
<SEC-HEADER>0001213900-25-099693.hdr.sgml : 20251017
<ACCEPTANCE-DATETIME>20251016214526
ACCESSION NUMBER:		0001213900-25-099693
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251017
DATE AS OF CHANGE:		20251016

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mawson Infrastructure Group Inc.
		CENTRAL INDEX KEY:			0001218683
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				880445167
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-290013
		FILM NUMBER:		251398828

	BUSINESS ADDRESS:	
		STREET 1:		950 RAILROAD AVE
		CITY:			MIDLAND
		STATE:			PA
		ZIP:			15059
		BUSINESS PHONE:		(412) 515-0896

	MAIL ADDRESS:	
		STREET 1:		950 RAILROAD AVE
		CITY:			MIDLAND
		STATE:			PA
		ZIP:			15059

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Wize Pharma, Inc.
		DATE OF NAME CHANGE:	20171120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OphthaliX, Inc.
		DATE OF NAME CHANGE:	20120207

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DENALI CONCRETE MANAGEMENT INC
		DATE OF NAME CHANGE:	20030213
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>ea0261025-424b5_mawson.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><B>PROSPECTUS SUPPLEMENT</B></TD>
    <TD STYLE="text-align: right; width: 50%; font-size: 10pt"><B>Filed Pursuant to Rule 424(b)(5)</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>(To prospectus dated September 15, 2025)</B></TD>
    <TD STYLE="text-align: right; font-size: 10pt"><B>Registration No. 333-290013</B></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$9,600,000</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MAWSON INFRASTRUCTURE GROUP INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have entered into an At The Market Offering Agreement, dated October
16, 2025 (the &ldquo;sales agreement&rdquo;), with H.C. Wainwright &amp; Co., LLC (&ldquo;Wainwright&rdquo;), relating to shares of our
common stock, par value $0.001 per share (&ldquo;common stock&rdquo;), offered by this prospectus supplement and the accompanying base
prospectus. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock having an aggregate
offering price of up to $9,600,000 from time to time through Wainwright, acting as our sales agent pursuant to this prospectus supplement
and the accompanying base prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our common stock is traded on The Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;),
under the symbol &ldquo;MIGI.&rdquo; The last reported sale price of our common stock on October 16, 2025, was $1.67 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sales of our common stock, if any, under this prospectus supplement
will be made by any method permitted that is deemed an &ldquo;at the market offering&rdquo; as defined in Rule 415 under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), including sales made directly on or through Nasdaq or any other existing trading
market in the United States for our common stock, sales made to or through a market maker other than on an exchange or otherwise, directly
to Wainwright as principal, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing
market prices and/or in any other method permitted by law. Wainwright is not required to sell any specific number or dollar amount of
securities, but will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices.
There is no arrangement for funds to be received in any escrow, trust or similar arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Wainwright will be entitled to compensation at a commission rate equal
to 3.0% of the gross sales price per share sold. In connection with the sale of the common stock on our behalf, Wainwright will be deemed
to be an &ldquo;underwriter&rdquo; within the meaning of the Securities Act and the compensation of Wainwright will be deemed to be underwriting
commissions or discounts. We have also agreed to provide indemnification and contribution to Wainwright with respect to certain liabilities,
including liabilities under the Securities Act or the Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). See &ldquo;Plan
of Distribution&rdquo; beginning on page S-12 for additional information regarding the compensation to be paid to Wainwright.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the date of this prospectus supplement, the aggregate market
value of our outstanding common stock held by non-affiliates, or the public float, was approximately $28,800,000, which was calculated
based on 17,273,349 outstanding shares of common stock held by non-affiliates at a price of $1.67 per share, the closing price of our
common stock on October 16, 2025, as reported on Nasdaq. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities
registered on this registration statement with a value of more than one-third of the aggregate market value of shares of our common stock
held by non-affiliates in any 12-month period, so long as the aggregate market value of shares of our common stock held by non-affiliates
is less than $75,000,000. During the 12 calendar months prior to, and including, the date of this prospectus supplement, we have not sold
any securities pursuant to General Instruction I.B.6 of Form S-3.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are a &ldquo;smaller reporting company&rdquo; as defined under
the federal securities laws and, under applicable rules of the Securities and Exchange Commission, we have elected to comply with certain
reduced public company reporting and disclosure requirements.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investing in our securities involves significant risks. Please
read the information contained in or incorporated by reference under the heading &ldquo;Risk Factors&rdquo; beginning on page S-6
of this prospectus supplement, and under similar headings in other documents filed after the date hereof and incorporated by reference
into this prospectus supplement and the accompanying base prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement. Any
representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="border-top: black 1.5pt solid; padding-top: 3pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>H.C.
    Wainwright &amp; Co.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The date of this prospectus supplement is October
17, 2025. </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS<SUP></SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Prospectus Supplement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt; width: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center; width: 10%"><B>Page</B></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_001">ABOUT THIS PROSPECTUS SUPPLEMENT</A></TD>
    <TD STYLE="text-align: center">S-ii</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#S_002">MARKET DATA</A></TD>
    <TD STYLE="text-align: center">S-iii</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_003">TRADEMARKS</A></TD>
    <TD STYLE="text-align: center">S-iii</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#S_004">PROSPECTUS SUPPLEMENT SUMMARY</A></TD>
    <TD STYLE="text-align: center">S-1</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_005">THE OFFERING</A></TD>
    <TD STYLE="text-align: center">S-3</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#S_006">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: center">S-4</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_007">RISK FACTORS</A></TD>
    <TD STYLE="text-align: center">S-6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#S_008">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: center">S-9</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_009">DIVIDEND POLICY</A></TD>
    <TD STYLE="text-align: center">S-10</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#S_010">DILUTION</A></TD>
    <TD STYLE="text-align: center">S-11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_011">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: center">S-12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#S_012">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: center">S-13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_013">EXPERTS</A></TD>
    <TD STYLE="text-align: center">S-13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#S_014">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: center">S-13</TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#S_015">INCORPORATION BY REFERENCE</A></TD>
    <TD STYLE="text-align: center">S-13</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Prospectus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: center; width: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center; width: 10%"><B>Page</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></TD>
    <TD STYLE="text-align: center">ii</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#a_002">PROSPECTUS SUMMARY</A></TD>
    <TD STYLE="text-align: center">1</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_003">RISK FACTORS</A></TD>
    <TD STYLE="text-align: center">2</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#anew_001">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: center">3</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_004">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#a_005">DESCRIPTION OF CAPITAL STOCK WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">6</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_006">DESCRIPTION OF DEBT SECURITIES WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">10</TD></TR>
<TR STYLE="background-color: White">
    <TD><A HREF="#a_007">DESCRIPTION OF WARRANTS WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">19</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_008">DESCRIPTION OF UNITS WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">22</TD></TR>
<TR STYLE="background-color: White">
    <TD><A HREF="#a_009">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: center">23</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_010">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: center">25</TD></TR>
<TR STYLE="background-color: White">
    <TD><A HREF="#a_011">EXPERTS</A></TD>
    <TD STYLE="text-align: center">25</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_012">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: center">25</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#a_013">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD>
    <TD STYLE="text-align: center">26</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_001"></A>ABOUT THIS PROSPECTUS SUPPLEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This document is part of a registration statement
that we filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) using a &ldquo;shelf&rdquo; registration process
and consists of two parts. The first part is this prospectus supplement, which describes the specific terms of this offering. The second
part, the accompanying base prospectus, gives more general information, some of which may not apply to this offering. Generally, when
we refer only to the &ldquo;prospectus,&rdquo; we are referring to both parts combined. This prospectus supplement may add to, update
or change information in the accompanying base prospectus and the documents incorporated by reference into this prospectus supplement
or the accompanying base prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If information in this prospectus supplement is
inconsistent with the accompanying base prospectus or with any document incorporated by reference that was filed with the SEC before
the date of this prospectus supplement, you should rely on this prospectus supplement. This prospectus supplement, the accompanying base
prospectus and the documents incorporated into each by reference include important information about us, the securities being offered
and other information you should know before investing in our securities. You should also read and consider information in the documents
we have referred you to in the sections of this prospectus supplement entitled &ldquo;Where You Can Find More Information&rdquo; and
&ldquo;Incorporation by Reference.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You should rely only on this prospectus supplement,
the accompanying base prospectus, the documents incorporated or deemed to be incorporated by reference herein or therein and any free
writing prospectus prepared by us or on our behalf. We have not, and Wainwright has not, authorized anyone to provide you with information
that is in addition to or different from that contained or incorporated by reference in this prospectus supplement and the accompanying
base prospectus. If anyone provides you with different or inconsistent information, you should not rely on it. We and Wainwright are
not offering to sell these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information
contained in this prospectus supplement, the accompanying base prospectus or any free writing prospectus, or incorporated by reference
herein, is accurate as of any date other than as of the date of this prospectus supplement or the accompanying base prospectus or any
free writing prospectus, as the case may be, or in the case of the documents incorporated by reference, the date of such documents regardless
of the time of delivery of this prospectus supplement and the accompanying base prospectus or any sale of our securities. Our business,
financial condition, liquidity, results of operations and prospects may have changed since those dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We further note that the representations, warranties
and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference in this prospectus
supplement or the accompanying base prospectus were made solely for the benefit of the parties to such agreement, including, in some
cases, for the purpose of allocating risk among the parties to such agreements, and should not be deemed to be a representation, warranty
or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly,
such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise indicated in this prospectus
supplement or the context otherwise requires, all references to &ldquo;we&rdquo;, &ldquo;us&rdquo;, &ldquo;our&rdquo;, the &ldquo;Company,&rdquo;
&ldquo;Mawson&rdquo; and &ldquo;our company&rdquo; refer to Mawson Infrastructure Group Inc. and its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>We are offering to sell, and seeking offers
to buy, our securities only in jurisdictions where offers and sales are permitted. The distribution of this prospectus supplement and
the accompanying base prospectus and the offering of our securities in certain jurisdictions may be restricted by law. No action is being
taken in any jurisdiction outside the United States to permit a public offering of the securities or possession or distribution of this
prospectus supplement or the accompanying base prospectus in that jurisdiction. Persons who come into possession of this prospectus supplement
or the accompanying base prospectus in jurisdictions outside the United States are required to inform themselves about and to observe
any restrictions as to this offering and the distribution of this prospectus supplement or the accompanying base prospectus applicable
to that jurisdiction. This prospectus supplement and the accompanying base prospectus do not constitute, and may not be used in connection
with, an offer to sell, or a solicitation of an offer to buy, any securities offered by this prospectus supplement and the accompanying
base prospectus by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.</B>&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_002"></A>MARKET DATA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Market data and certain industry data and forecasts
used throughout this prospectus supplement, the accompanying base prospectus and the documents incorporated or deemed to be incorporated
by reference herein or therein were obtained from internal company surveys, market research, consultant surveys, publicly available information,
reports of governmental agencies and industry publications and surveys. Industry surveys, publications, consultant surveys and forecasts
generally state that the information contained therein has been obtained from sources believed to be reliable, but the accuracy and completeness
of such information is not guaranteed. Accordingly, those third-party projections may be overstated and should not be given undue weight.
Forecasts are particularly likely to be inaccurate, especially over long periods of time. In addition, we do not necessarily know what
assumptions regarding general economic growth were used in preparing the forecasts we cite. Statements as to our market position are based
on the most currently available data. While we are not aware of any misstatements regarding the industry data presented in this prospectus
supplement, the accompany prospectus and the documents incorporated or deemed to be incorporated by reference herein or therein, our estimates
involve risks and uncertainties and are subject to change based on various factors, including those discussed under the heading &ldquo;Risk
Factors&rdquo; in this prospectus supplement.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_003"></A>TRADEMARKS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Solely for convenience, our trademarks and tradenames
referred to in this prospectus supplement may appear without the &reg; or &trade; symbols, but such references are not intended to indicate
in any way that we will not assert, to the fullest extent under applicable law, our rights to these trademarks and tradenames. All other
trademarks, service marks, and trade names included or incorporated by reference into this prospectus supplement or the accompanying
base prospectus are the property of their respective owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_004"></A>PROSPECTUS SUPPLEMENT SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>This summary highlights information contained elsewhere or incorporated
by reference in this prospectus supplement. This summary does not contain all of the information that you should consider before deciding
to invest in our common stock. You should read this entire prospectus carefully, including the &ldquo;Risk Factors&rdquo; section contained
in this prospectus supplement and the risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2024 filed
with the SEC on March 28, 2025, as amended by Amendment No. 1 on Form 10-K/A filed with SEC on April 30, 2025 (as amended, the &ldquo;2024
Form 10-K&rdquo;), and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, our consolidated financial
statements and the related notes thereto and the other documents incorporated by reference in this prospectus supplement.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a technology company focused on digital
infrastructure platforms, headquartered in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 9, 2021, the Company acquired the shares
of Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd) in a stock for stock exchange. This transaction has been
accounted for as a reverse asset acquisition. Shares of the Company&rsquo;s common stock have been listed on The Nasdaq Capital Market
(&ldquo;Nasdaq&rdquo;) since September 29, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company develops and operates digital infrastructure
platforms for enterprise customers and for its own purposes. The Company&rsquo;s digital infrastructure platforms can be used to operate
computing resources for a number of applications, and are offered across artificial intelligence (&ldquo;AI&rdquo;), high-performance
computing (&ldquo;HPC&rdquo;), digital assets, and other computing applications. The Company also has an energy management business, which
utilizes software and analysis, to generate revenue when the Company participates in energy management programs related to the real-time
needs of the grid.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has a strategy to prioritize the usage
of carbon-free energy sources, including nuclear energy, to power its digital infrastructure platforms and computational machines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company manages and operates digital infrastructure
platforms and data centers delivering a total current capacity of approximately 129 megawatts (&ldquo;MW&rdquo;) within its current operational
sites with an additional 24 MW of future capacity that is under development, all strategically located in locations served by the Pennsylvania-New
Jersey-Maryland Interconnection (&ldquo;PJM&rdquo;) Energy Market in the United States of America (the &ldquo;PJM Energy Market&rdquo;).
The PJM Energy Market is amongst the largest wholesale power market in North America.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Implications of Being a Smaller Reporting Company </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a &ldquo;smaller reporting company&rdquo;
as defined in Rule 12b-2 under Exchange Act. We may take advantage of certain of the scaled disclosures available to smaller reporting
companies and will be able to take advantage of these scaled disclosures for so long as our voting and non-voting Common Stock held by
non-affiliates is less than $250,000,000 measured on the last business day of our second fiscal quarter, or our annual revenue is less
than $100,000,000 during the most recently completed fiscal year and our voting and non-voting Common Stock held by non-affiliates is
less than $700,000,000 measured on the last business day of our second fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Corporate Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We were incorporated in the State of Delaware
on February 10, 2012, originally under the name Opthalix Inc., and changed our corporate name to Wize Pharma, Inc. on November 15, 2017.
On March 17, 2021, we changed our corporate name to Mawson Infrastructure Group Inc. to reflect our acquisition of Mawson Infrastructure
Group Pty Ltd., an Australian company (formerly known as Cosmos Capital Limited), and its subsidiaries on March 9, 2021. On April 27,
2021, we changed our trading symbol to &ldquo;MIGI&rdquo;. Shares of our Common Stock have been listed for trading on Nasdaq since September
29, 2021.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our executive offices are located at 950 Railroad
Avenue, Midland, Pennsylvania 15059. Our telephone number is (412) 515-0896 and our internet address is www.mawsoninc.com. The information
on, or that may be accessed from, our website is not a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Recent Developments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>Nasdaq Deficiency</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 12, 2025, the Company was notified
that the Nasdaq Hearings Panel (the &ldquo;Panel&rdquo;) had determined to grant the Company&rsquo;s request for continued listing on
Nasdaq, subject to the Company timely satisfying certain conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As previously disclosed in our filings under the
Exchange Act, on January 24, 2025, the Company was notified by the Listing Qualifications Department (the &ldquo;Staff&rdquo;) of The
Nasdaq Stock Market LLC (&ldquo;Nasdaq&rdquo;) that for the 33 consecutive business days preceding the date of the notice, the Company&rsquo;s
Market Value of Listed Securities (&ldquo;MVLS&rdquo;) was less than the $35.0 million minimum required for continued listing under Nasdaq
Listing Rule 5550(b)(2) (the &ldquo;MVLS Rule&rdquo;) and the Company was granted a 180-calendar day period to regain compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On February 6, 2025, the Company was notified that
it had reported a closing bid price of less than $1.00 per share for the previous 30 consecutive business days in contravention of Nasdaq
Listing Rule 5550(a)(2) (the &ldquo;Bid Price Rule&rdquo;) and the Company was granted a 180-calendar day period to regain compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As the Company was unable to regain compliance
with the MVLS Rule or the Bid Price Rule within the grace periods provided by Nasdaq, the Company was notified that its securities were
subject to delisting unless the Company timely requested a hearing before the Panel. The Company timely requested a hearing, at which
it presented its compliance plan and requested an extension to demonstrate compliance with the MVLS Rule and the Bid Price Rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Following the hearing, on September 12, 2025, the
Company received the Panel&rsquo;s decision, which granted the Company&rsquo;s request for continued listing on Nasdaq subject to the
Company demonstrating compliance with (i) the MVLS Rule by no later than October 15, 2025, and (ii) the Bid Price Rule by no later than
November 7, 2025 (together, the &ldquo;Exception Period&rdquo;). The Panel&rsquo;s decision also served to notify the Company that it
must provide Nasdaq with prompt notification of any significant events that occur during the Exception Period that may affect the Company&rsquo;s
compliance with Nasdaq&rsquo;s listing requirements and that the Panel reserved the right to reconsider the terms of the exception based
on any event, condition, or circumstance that exists or develops that would, in the opinion of the Panel, make the continued listing of
the Company&rsquo;s securities on Nasdaq inadvisable or unwarranted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 10, 2025, the Company requested an extension
of the October 15, 2025 deadline to evidence compliance with the Bid Price Rule, through November 7, 2025, which coincides with the deadline
for the Company&rsquo;s compliance with the MVLS Rule. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There can be no assurance that the Company will be able to regain compliance
with either the MVLS Rule or the Bid Price Rule or otherwise maintain compliance with all other applicable criteria for continued listing
on Nasdaq. In such case, the Company&rsquo;s securities would be subject to delisting.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><I>Involuntary Petition</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">As previously disclosed
in our filings under the Exchange Act, an involuntary petition (&ldquo;Involuntary Petition&rdquo;) seeking the entry of an order for
relief was filed by certain petitioning creditors against us on December 4, 2024, in the United States Bankruptcy Court for the District
of Delaware (the &ldquo;Delaware Bankruptcy Court&rdquo;), Bankr. Case No. 24-12726 (the &ldquo;Involuntary Bankruptcy Case&rdquo;).
The Involuntary Petition was filed under chapter 11 (&ldquo;Chapter 11&rdquo;) of title 11, 11 U.S.C. &sect; 101 through 1330 (the &ldquo;Bankruptcy
Code&rdquo;). Following successful motions brought by the Company against the filing parties in the Involuntary Bankruptcy Case, the
petitioners have filed a motion to dismiss the Involuntary Petition. A hearing to decide whether to dismiss the Involuntary Petition
is scheduled for October 21, 2025. If granted, the motion by the petitioners will result in the dismissal of the Involuntary Petition
against the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There can be no guarantees that the Delaware Bankruptcy
Court will dismiss the Involuntary Petition. The Company continues to operate in the ordinary course of business as authorized under
11 U.S.C. &sect; 303(f). Under applicable federal law, all collection efforts by the Company&rsquo;s creditors, including all of the
Petitioning Creditors, continue to be stayed pending final resolution of the Involuntary Petition.<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

</div>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_005"></A>THE OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">Common stock offered by us pursuant to this prospectus</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 74%">Shares of our common stock having an aggregate offering price of up
to $9,600,000.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common stock to</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">be outstanding</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">after this offering</P></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Up to 26,580,619 shares (as more fully described in the notes following
this table), assuming the sale of 5,748,503 shares at a sales price of $1.67 per share, which was the closing price on Nasdaq on October
16, 2025. The actual number of shares issued and outstanding will vary depending on the price at which shares may be sold from time to
time during this offering.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Manner of offering</TD>
    <TD>&nbsp;</TD>
    <TD>&ldquo;At the market offering&rdquo; that may be made from time to time on the Nasdaq Capital Market or other trading market
    for our common stock in the U.S. through our sales agent, Wainwright. See the section entitled &ldquo;Plan of Distribution&rdquo;
    on page S-12 of this prospectus supplement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Use of proceeds</TD>
    <TD>&nbsp;</TD>
    <TD>Our management will retain broad discretion regarding the allocation
and use of the net proceeds from this offering. We currently intend to use a portion of the net proceeds for general corporate purposes,
including operating expenses and litigation costs and expenses. See the section entitled &ldquo;Use of Proceeds&rdquo; on page S-9 of
this prospectus supplement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Risk factors</TD>
    <TD>&nbsp;</TD>
    <TD>See &ldquo;Risk Factors&rdquo; beginning on page S-6 of this prospectus supplement and the other information included
    in, or incorporated by reference into, our prospectus for a discussion of certain factors you should carefully consider before deciding
    to invest in shares of our common stock.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Nasdaq Capital Market symbol</TD>
    <TD>&nbsp;</TD>
    <TD>MIGI</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The number of shares of our common stock to be outstanding immediately
after this offering is based on 20,832,116 shares of common stock outstanding as of June 30, 2025, and excludes, as of such date, the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,500,000 shares of common stock issuable upon the exercise of stock options, at a weighted average exercise price of $1.07 per share;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,480,839 shares of common stock issuable upon the exercise of warrants, at a weighted average exercise price of $4.33 per share;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,161,627 shares of common stock issuable upon vesting of restricted stock units; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,833,545 shares of common stock reserved for issuance under our equity incentive plan.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
</Div>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_006"></A>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus supplement, the accompanying base
prospectus and the documents incorporated or deemed to be incorporated by reference herein or therein contain forward-looking statements,
about our expectations, beliefs or intentions regarding, among other things, our product development efforts, business, financial condition,
results of operations, strategies or prospects. Forward-looking statements can be identified by the use of forward-looking words such
as &ldquo;believe&rdquo;, &ldquo;expect&rdquo;, &ldquo;intend&rdquo;, &ldquo;plan&rdquo;, &ldquo;may&rdquo;, &ldquo;should&rdquo; or
&ldquo;anticipate&rdquo; or their negatives or other variations of these words or other comparable words or by the fact that these statements
do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to,
various filings made by us with the SEC, press releases or oral statements made by or with the approval of one of our authorized executive
officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are
made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks
and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking
statements. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated
in forward-looking statements, including, but not limited to, the factors summarized below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus supplement, the accompanying base
prospectus and the documents incorporated or deemed to be incorporated by reference herein or therein identifies important factors which
could cause our actual results to differ materially from those indicated by the forward-looking statements, particularly those the risk
factors incorporated by reference above. The risk factors incorporated by reference above are not necessarily all of the important factors
that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Given these uncertainties,
you are cautioned not to place undue reliance on such forward-looking statements. Factors that could cause our actual results to differ
materially from those expressed or implied in such forward-looking statements include, but are not limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">continued evolution and uncertainty related to technologies
    and digital infrastructure;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to continue as a going concern;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to cure any continued listing deficiencies
    and maintain the listing of our common stock on Nasdaq;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the availability of our &ldquo;at-the-market&rdquo;
    program and our ability or inability to secure additional funds through equity financing transactions;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">access to reliable and reasonably priced electricity
    sources;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">operational, maintenance, repair, safety, and construction
    risks;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the failure or breakdown of mining equipment, or internet
    connection failure;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our reliance on key management personnel and employees;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to attract or retain the talent needed
    to sustain or grow the business;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to develop and execute on our business
    strategy and plans;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">counterparty risks related to our customers, agreements
    and/or contracts;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&#9679;</TD>
    <TD>the loss of a significant digital colocation customer;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adverse actions by creditors, debt providers, or other
    parties;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">continued evolution and uncertainty related to growth
in blockchain and Bitcoin and other digital assets&rsquo; usage;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

</div>


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    <DIV STYLE="padding-right: 4pt; padding-left: 4pt; border: Black 1.5pt solid; width: 98%">

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">high volatility in Bitcoin and other digital assets&rsquo;
    prices and in value attributable to our business;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our need to, and difficulty in, raising additional
    debt or equity capital and the availability of financing opportunities;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">failure to maintain required compliance to remain eligible
    for the most cost-effective forms of raising additional equity capital;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the evolution of AI and HPC market and changing technologies;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the slower than expected growth in demand for AI, HPC
    and other accelerated computing technologies;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the ability to timely implement and execute on AI and
    HPC digital infrastructure contracts or deployment;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the ability to timely complete the digital infrastructure
    build-out in order to achieve its revenue expectations for the periods mentioned;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">downturns in the digital assets industry;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">counterparty risks and risks of delayed or delinquent
    payments from customers and others;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">inflation, economic or political environment;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cyber-security threats;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to obtain proper insurance;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">banks and other financial institutions ceasing to provide
    services to our industry;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes to the Bitcoin and/or other networks&rsquo;
    protocols and software;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the decrease in the incentive or increased network
    difficulty to mine Bitcoin;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the increase of transaction fees related to digital
    assets:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the fraud or security failures of large digital asset
    exchanges;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the regulation and taxation of digital assets like
    Bitcoin;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to timely and effectively implement controls
    and procedures required by Section 404 of the Sarbanes-Oxley Act of 2002;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the effects of the Involuntary Petition and the outcome
    of the proceedings relating to the Involuntary Bankruptcy Case in general, and how our common stock shares may and/or will be impacted
    by such pending Involuntary Petition; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">material litigation, investigations, or enforcement
    actions, including by regulators and governmental authorities.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We caution investors that actual results or business
conditions may differ materially from those projected or suggested in forward-looking statements as a result of various factors including,
but not limited to, those described above and in the Risk Factors section of the 2024 Form 10-K and our Quarterly Reports on Form 10-Q
for the quarter ended March 31, 2025, filed with the SEC on May 15, 2025, and June 30, 2025, filed with the SEC on August 14, 2025, and
our subsequent SEC filings. All forward-looking statements contained or incorporated by reference in this prospectus are expressly qualified
in their entirety by these cautionary statements. Unless required by law, we undertake no obligation to publicly update or review any
forward-looking statement, whether as a result of new information, future developments or otherwise. These cautionary statements qualify
all forward-looking statements attributable to us or persons acting on our behalf.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</div>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_007"></A>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Investment in our common stock involves risks. Before deciding
whether to invest in our common stock, you should consider carefully the risk factors discussed below and those contained in the section
entitled &ldquo;Risk Factors&rdquo; contained in the 2024 Form 10-K and our Quarterly Reports on Form 10-Q for the quarters ended March
31, 2025 and June 30, 2025, which are incorporated herein by reference in their entirety, as well as any amendment or update to our risk
factors reflected in subsequent filings with the SEC. If any of the risks or uncertainties described in our SEC filings actually occur,
our business, financial condition, results of operations or cash flow could be materially and adversely affected. This could cause the
trading price of our common stock to decline, resulting in a loss of all or part of your investment. The risks and uncertainties we have
described are not the only ones facing our company. Additional risks and uncertainties not presently known to us or that we currently
deem immaterial may also affect our business operations.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risks Related to Our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>We receive a significant portion of our digital colocation revenues
from a limited number of customers. The loss of a major customer could adversely affect our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have in the past and expect to continue to
derive a significant portion of our digital colocation revenues from a relatively limited number of customers. The loss of any one
or more of these customers, a significant change in their business model, or in their ability to make payments when due, could
materially and adversely affect our sales, financial condition and liquidity. These factors are largely beyond our control and the
resulting loss in revenues may be difficult or impossible to replace. Recently, we experienced the loss of one of our former most
significant colocation customers due to its acquisition by one of our competitors. If we are unsuccessful in offsetting the decline
in colocation revenue from this customer with revenue from new colocation customers or other existing customers, our revenues and
results of operations could be materially adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risks Associated with this Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>We have broad discretion in the use of the net proceeds of this
offering and may not use them effectively.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our management will have broad discretion in the
application of the net proceeds from this offering, including for any of the purposes described in the section entitled &ldquo;Use of
Proceeds,&rdquo; and could spend the proceeds in ways that do not improve our results of operations or enhance the value of our common
stock. The failure by management to apply these funds effectively could result in financial losses that could have a material adverse
effect on our business, cause the price of our common stock to decline and delay the development of our new business initiatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>You will experience immediate and substantial dilution.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The offering price per share in this offering may
exceed the net tangible book value per share of our common stock outstanding prior to this offering. Assuming that an aggregate of 5,748,503
shares of our common stock are sold at a price of $1.67 per share, the last reported sale price of our common stock on Nasdaq on October
16, 2025, for aggregate gross proceeds of $9,600,000, you will experience immediate dilution of $1.64 per share, representing the difference
between our as adjusted net tangible book value per share as of June 30, 2025 after giving effect to this offering and the assumed offering
price. The exercise of outstanding stock options and warrants into common stock will result in further dilution of your investment. See
the section entitled &ldquo;Dilution&rdquo; below for a more detailed illustration of the dilution you would incur if you participate
in this offering.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>You may experience future dilution as a result of future equity
offerings and other issuances of our common stock or other securities, including securities that are exercisable for or convertible into
common stock. In addition, this offering and future equity offerings and other issuances of our common stock or other securities may
adversely affect our common stock price.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In order to raise additional capital or for
other purposes, we may in the future offer additional shares of our common stock or other securities convertible into or
exchangeable for our common stock at prices that may not be the same as the price per share in this offering. We may sell or issue
shares or other securities in any other offering at a price per share that is less than the price per share paid by investors in
this offering, and investors purchasing shares or other securities in the future could have rights superior to existing
stockholders. The price per share at which we sell additional shares of our common stock, or securities convertible or exchangeable
into common stock, in future transactions may be higher or lower than the price per share paid by investors in this offering. You
will incur dilution upon exercise of any outstanding stock options, warrants or upon the issuance of shares of common stock under
our stock incentive programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The common stock offered hereby will be sold in &ldquo;at-the-market&rdquo;
offerings, and investors who buy shares at different times will likely pay different prices.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Investors who purchase shares in this offering
at different times will likely pay different prices, and so may experience different outcomes in their investment results. We will have
discretion, subject to market demand, to vary the timing, prices and numbers of shares sold, and there is no minimum or maximum sales
price. Investors may experience a decline in the value of their shares as a result of share sales made at prices lower than the prices
they paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The actual number of shares we will issue under the sales agreement,
at any one time or in total, is uncertain.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to certain limitations in the sales agreement
and compliance with applicable law, we have the discretion to deliver a sales notice to Wainwright at any time throughout the term of
the sales agreement. The number of shares that are sold by Wainwright after we deliver a sales notice will fluctuate based on the market
price of the common stock during the sales period and limits we set with Wainwright. Because the price per share of each share sold will
fluctuate based on the market price of our common stock during the sales period, it is not possible at this stage to predict the number
of shares that will be ultimately issued. In addition, dependent upon our per share stock price, we may not have a sufficient number
of authorized shares to sell up to the maximum dollar amount under the sales agreement. If this were to occur, may be faced with limited
options to finance certain operations, to pay debt or expand operations or acquire entities in roll-up transactions involving our equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Sales of a substantial number of our shares of common stock
in the public market could cause our stock price to fall.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue and sell additional shares of common
stock in the public markets, including during this offering. As a result, a substantial number of shares of our common stock may be sold
in the public market. Sales of a substantial number of shares of our common stock in the public markets, including during this offering,
or the perception that such sales could occur, could depress the market price of our common stock and impair our ability to raise capital
through the sale of additional equity securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>An active trading market for our common stock may not be sustained.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although our common stock is listed on The Nasdaq
Capital Market, the market for our common stock has demonstrated varying levels of trading activity. Furthermore, the current level of
trading may not be sustained in the future. The lack of an active market for our common stock may impair investors&rsquo; ability to
sell their shares at the time they wish to sell them or at a price that they consider reasonable, may reduce the fair market value of
their shares and may impair our ability to raise capital to continue to fund operations by selling shares and may impair our ability
to acquire additional intellectual property assets by using our shares as consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The exercise of our outstanding options, warrants and settlement
of our outstanding restricted stock units will dilute stockholders and could decrease our stock price.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The exercise of our outstanding options, warrants
and the settlement of our outstanding restricted stock units may adversely affect our stock price due to sales of a large number of shares
or the perception that such sales could occur. These factors also could make it more difficult to raise funds through future offerings
of our securities, and could adversely impact the terms under which we could obtain additional equity capital. Exercise of outstanding
options, warrants and the settlement of our outstanding restricted stock units or any future issuance of additional shares of common
stock or other equity securities, including but not limited to options, warrants, restricted stock units or other derivative securities
convertible into our common stock, may result in significant dilution to our stockholders and may decrease our stock price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Our stock price may be subject to substantial volatility, and
stockholders may lose all or a substantial part of their investment.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock currently trades on The Nasdaq
Capital Market. There is limited public float, and trading volume historically has been low and sporadic. As a result, the market price
for our common stock may not necessarily be a reliable indicator of our fair market value. The price at which our common stock trades
may fluctuate as a result of a number of factors, including the number of shares available for sale in the market, quarterly variations
in our operating results, actual or anticipated announcements of new releases by us or competitors, the gain or loss of significant customers,
changes in the estimates of our operating performance, market conditions in our industry and the economy as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Because we do not anticipate paying any cash dividends on our
common stock in the foreseeable future, capital appreciation, if any, will be your sole source of gain.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have never paid or declared any cash dividends
on our common stock. We currently intend to retain earnings, if any, to finance the growth and development of our business and we do
not anticipate paying any cash dividends in the foreseeable future. As a result, only appreciation of the price of our common stock will
provide a return to our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>We are not currently in compliance with the continued listing
requirements for Nasdaq. If we do not regain compliance and continue to meet the continued listing requirements, our common stock may
be delisted and the price of our common stock, our ability to access the capital markets and our financial condition could be negatively
impacted</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 12, 2025, the Company was notified
that the Panel had determined to grant the Company&rsquo;s request for continued listing on Nasdaq, subject to the Company timely satisfying
certain conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As previously disclosed in our filings under the
Exchange Act, on January 24, 2025, the Company was notified by the Staff of Nasdaq that for the 33 consecutive business days preceding
the date of the notice, the Company&rsquo;s MVLS was less than the $35.0 million minimum required for continued listing under the MVLS
Rule and the Company was granted a 180-calendar day period to regain compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On February 6, 2025, the Company was notified that
it had reported a closing bid price of less than $1.00 per share for the previous 30 consecutive business days in contravention of the
Bid Price Rule and the Company was granted a 180-calendar day period to regain compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As the Company was unable to regain compliance
with the MVLS Rule or the Bid Price Rule within the grace periods provided by Nasdaq, the Company was notified that its securities were
subject to delisting unless the Company timely requested a hearing before the Panel. The Company timely requested a hearing, at which
it presented its compliance plan and requested an extension to demonstrate compliance with the MVLS Rule and the Bid Price Rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Following the hearing, on September 12, 2025, the
Company received the Panel&rsquo;s decision, which granted the Company&rsquo;s request for continued listing on Nasdaq subject to the
Company demonstrating compliance with (i) the MVLS Rule by no later than October 15, 2025, and (ii) the Bid Price Rule by no later than
November 7, 2025. The Panel&rsquo;s decision also served to notify the Company that it must provide Nasdaq with prompt notification of
any significant events that occur during the Exception Period that may affect the Company&rsquo;s compliance with Nasdaq&rsquo;s listing
requirements and that the Panel reserved the right to reconsider the terms of the exception based on any event, condition, or circumstance
that exists or develops that would, in the opinion of the Panel, make the continued listing of the Company&rsquo;s securities on Nasdaq
inadvisable or unwarranted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On October 10, 2025, the Company requested an extension
of the October 15, 2025 deadline to evidence compliance with the Bid Price Rule, through November 7, 2025, which coincides with the deadline
for the Company&rsquo;s compliance with the MVLS Rule.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There can be no assurance that the Company will be able to regain compliance
with either the MVLS Rule or the Bid Price Rule or otherwise maintain compliance with all other applicable criteria for continued listing
on Nasdaq. In such case, the Company&rsquo;s securities would be subject to delisting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If we are unable to regain compliance and maintain
listing on Nasdaq and Nasdaq delists our securities from trading on its exchange, we and our stockholders could face significant negative
consequences including: reducing the liquidity and market price of our common stock; reducing the number of investors willing to hold
or acquire our common stock, which could negatively impact our ability to raise equity financing; decreasing the amount of news coverage
of the Company; and limiting our ability to issue additional securities or obtain additional financing in the future. Additionally, the
market price of our common stock may decline further, and shareholders may lose some or all of their investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B><A NAME="S_008"></A>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;<SUP></SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue and sell shares of our common stock
having aggregate sales proceeds of up to $9,600,000 from time to time. Because there is no minimum offering amount required as a condition
to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this
time. We estimate that the net proceeds from the sale of the shares of common stock that we are offering may be up to approximately $9,162,000,
after deducting Wainwright&rsquo;s commission and estimated offering expenses payable by us.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the date of this prospectus supplement, we
cannot predict with certainty all of the particular uses for the net proceeds to be received. We currently intend to use to use a portion
of the net proceeds, if any, for general corporate purposes, including operating expenses and litigation costs and expenses.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The amounts and timing of our use of the net proceeds
from the sale of any securities offered under this prospectus supplement will depend on a number of factors, including the factors described
under the heading &ldquo;Risk Factors&rdquo; in this prospectus supplement and in the documents incorporated by reference herein, as
well as the amount of cash used in our operations. We may find it necessary or advisable to use the net proceeds for other purposes,
and we will have broad discretion in the application of the net proceeds.</P>




<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_009"></A>DIVIDEND POLICY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have never declared or paid any cash dividends
on our common stock. We currently intend to retain any future earnings and do not expect to declare or pay any cash dividends in the
foreseeable future. Any future determination to pay dividends will be at the discretion of our board of directors, subject to applicable
laws, and will depend on our financial condition, results of operations, capital requirements, general business conditions and other
factors that our board of directors considers relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_010"></A>DILUTION<SUP></SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you invest in our common stock, your interest
will be diluted to the extent of the difference between the price per share you pay in this offering and the net tangible book value per
share of our common stock immediately after this offering. Our net tangible book value of our common stock as of June 30, 2025, was approximately
$(8,300,000), or approximately $(0.40) per share of common stock based upon 20,832,116 shares outstanding. Net tangible book value per
share is equal to our total tangible assets, less our total liabilities, divided by the total number of shares outstanding as of June
30, 2025.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After giving effect to the sale of our common stock
in the aggregate amount of $9,600,000 at an assumed offering price of $1.67 per share, the last reported sale price of our common stock
on Nasdaq on October 16, 2025, and after deducting estimated offering commissions and expenses payable by us, our net tangible book value
as of June 30, 2025 would have been $822,098, or $0.03 per share of common stock. This represents an immediate increase in net tangible
book value of $0.43 per share to our existing stockholders and an immediate dilution in net tangible book value of $1.64 per share to
new investors in this offering.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table illustrates this calculation on a per share basis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%">Assumed offering price per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.67</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Net tangible book value per share as of June 30, 2025</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.40</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Increase in net tangible book value per share attributable to the offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.43</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">As-adjusted net tangible book value per share after giving effect to the offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.03</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Dilution in net tangible book value per share to new investors</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.64</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each $0.20 increase (decrease) in the public offering
price, would increase (decrease) pro forma as adjusted net tangible book value by less than $0.01 per share, and would increase (decrease)
dilution in net tangible book value per share to new investors in this offering by $0.20, after deducting estimated commissions and estimated
offering expenses payable by us. Similarly, each increase or decrease of 100,000 in the number of shares of common stock offered by us
would increase (decrease) our pro forma as adjusted net tangible book value by less than $0.01 per share and increase (decrease) the dilution
to new investors by less than $0.01 per share, assuming the public offering price remains the same as used for our assumptions herein
at $1.67 per share, and after deducting the estimated underwriting discounts and commissions and estimated offering expenses payable by
us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The number of shares of our common stock to be
outstanding immediately after this offering is based on 20,836,116 shares of our common stock outstanding as of June 30, 2025. The number
of shares outstanding as of June 30, 2025 excludes, as of such date, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,500,000 shares of common stock issuable upon the exercise of stock options, at a weighted average exercise price of $1.07 per share;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,480,839 shares of common stock issuable upon the exercise of warrants, at a weighted average exercise price of $4.33 per share;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,161,627 shares of common stock issuable upon vesting of restricted stock units; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,833,545 shares of common stock reserved for issuance under our equity incentive plans.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing table does not give effect to the
exercise of any outstanding options or warrants. To the extent options and warrants are exercised, there may be further dilution to new
investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_011"></A>PLAN OF DISTRIBUTION<SUP></SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have entered into the sales agreement with Wainwright under which
we may issue and sell our common stock from time to time through Wainwright acting as sales agent, subject to certain limitations, including
the number of shares registered under the registration statement to which the offering relates. The sales, if any, of shares made under
the sales agreement will be made by any method that is deemed an &ldquo;at the market offering&rdquo; as defined in Rule 415 promulgated
under the Securities Act, including sales made directly on or through Nasdaq or any other existing trading market in the United States
for our common stock, sales made to or through a market maker other than on an exchange or otherwise, directly to Wainwright as principal,
in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices and/or
in any other method permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each time we wish to issue and sell common stock
under the sales agreement, we will notify Wainwright of the number of shares to be issued, the dates on which such sales are anticipated
to be made, any minimum price below which sales may not be made and other sales parameters as we deem appropriate. Once we have so instructed
Wainwright, unless Wainwright declines to accept the terms of the notice, Wainwright has agreed to use its commercially reasonable efforts
consistent with its normal trading and sales practices to sell such shares up to the amount specified on such terms. The obligations
of Wainwright under the sales agreement to sell our common stock are subject to a number of conditions that we must meet. We may instruct
Wainwright not to sell common stock if the sales cannot be effected at or above the price designated by us from time to time. We or Wainwright
may suspend the offering of common stock upon notice and subject to other conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will pay Wainwright commissions for its services
in acting as agent in the sale of common stock. Wainwright will be entitled to a commission in an amount equal to 3.0% of the gross proceeds
from the sale of common stock offered hereby. In addition, we have agreed to reimburse Wainwright for fees and disbursements related to
its legal counsel in an amount not to exceed $50,000. Additionally, pursuant to the terms of the sales agreement, we agreed to reimburse
Wainwright for the documented fees and costs of its legal counsel reasonably incurred in connection with Wainwright&rsquo;s ongoing due
diligence from time to time arising from the transactions contemplated by the sales agreement in an amount not to exceed $2,500 in the
aggregate per due diligence update. We estimate that the total expenses for the offering, excluding compensation payable to Wainwright
under the terms of the sales agreement, will be approximately $100,000.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Settlement for sales of common stock will generally occur on the first
business day following the date on which any sales are made (or such shorter settlement cycle as may be in effect under Exchange Act Rule
15c6-1 from time to time), or on some other date that is agreed upon by us and Wainwright in connection with a particular transaction,
in return for payment of the net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the sale of the common stock
on our behalf in this &ldquo;at the market offering&rdquo;, Wainwright will be deemed to be an &ldquo;underwriter&rdquo; within the meaning
of the Securities Act and the compensation of Wainwright will be deemed to be underwriting commissions or discounts. We have agreed to
provide indemnification and contribution to Wainwright against certain civil liabilities, including liabilities under the Securities
Act or the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The offering of our common stock pursuant to the
sales agreement will terminate upon the earlier of (i) the sale of all of our common stock provided for in this prospectus supplement
and (ii) termination of the sales agreement as provided therein.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Wainwright and its affiliates may in the future
provide various investment banking and other financial services for us and our affiliates, for which services they may in the future
receive customary fees. To the extent required by Regulation M under the Exchange Act, Wainwright will not engage in any market making
activities involving our common stock while the offering is ongoing under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the ordinary course of their various business activities, Wainwright
and its respective affiliates, officers, directors and employees may purchase, sell or hold a broad array of investments and actively
trade securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for their own account
and for the accounts of their customers, and such investment and trading activities may involve or relate to our assets, securities and/or
instruments (directly, as collateral securing other obligations or otherwise) and/or persons and entities with relationships with us.
Wainwright and its respective affiliates may also communicate independent investment recommendations, market color or trading ideas and/or
publish or express independent research views in respect of such assets, securities or instruments and may at any time hold, or recommend
to clients that they should acquire, long and/or short positions in such assets, securities and instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_012"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The validity of the securities being offered hereby
will be passed on by Stoel Rives LLP, Boise, Idaho. Ellenoff Grossman &amp; Schole LLP, New York, New York, is counsel for Wainwright
in connection with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_013"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The consolidated balance sheets of Mawson Infrastructure
Group Inc. as of December 31, 2024 and December 31, 2023, and the related consolidated statements of operations stockholders&rsquo; equity,
and cash flows for the years then ended have been audited by Wolf &amp; Company, P.C., as stated in its report, which is incorporated
herein by reference. Such consolidated financial statements are incorporated herein by reference in reliance upon such report given on
the authority of such firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_014"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We file annual, quarterly and current reports,
proxy statements and other information with the SEC. The SEC maintains a website that contains annual, quarterly, and current reports,
proxy statements, and other information that issuers (including us) file electronically with the SEC. The SEC&rsquo;s website address
is http://www.sec.gov. You can also obtain copies of materials we file with the SEC from our website found at https://mawsoninc.com/.
Information contained on or accessible through our website does not constitute part of this prospectus supplement or the accompanying
base prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus is part of a registration statement
on Form S-3 that we have filed with the SEC under the Securities Act and therefore omits certain information contained in the registration
statement. We have also filed exhibits and schedules with the registration statement that are excluded from this prospectus, and you
should refer to the applicable exhibit or schedule for a complete description of any statement referring to any contract or other document.
You may inspect a copy of the registration statement, including the exhibits and schedules, through the SEC&rsquo;s website as provided
above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S_015"></A>INCORPORATION BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus supplement is part of a registration
statement filed with the SEC. The SEC allows us to &ldquo;incorporate by reference&rdquo; into this prospectus supplement the information
that we file with them, which means that we can disclose important information to you by referring you to those documents. The information
incorporated by reference is considered to be part of this prospectus supplement, and information that we file later with the SEC will
automatically update and supersede this information. The following documents are incorporated by reference and made a part of this prospectus
supplement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>our Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000101376225004161/ea0234332-10k_mawson.htm">Form 10-K</A> for the fiscal year ended December
                                            31, 2024, as filed with the SEC on March 28, 2025, as amended by Amendment No. 1 to our Annual
                                            Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025037716/ea0239882-10ka1_mawson.htm">Form 10-K/A</A> for the fiscal year ended December 31, 2024, filed with the SEC on
                                            April 30, 2025;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>our Quarterly Reports on Form 10-Q for the fiscal quarters ended
                                            March 31, 2025, as filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025044350/ea0241310-10q_mawson.htm">May 15, 2025</A>, and June 30, 2025, as filed with the
                                            SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025076634/ea0252143-10q_mawson.htm">August 14, 2025</A>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>our Current Reports on Form 8-K filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025063693/ea0248816-8k_mawson.htm">July
                                                                    14, 2025</A>, as amended by Amendment No. 1 on Form 8-K/A filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025066102/ea0249634-8ka1_mawson.htm">July
                                                                    21, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025067736/ea0250229-8k_mawson.htm">July 25, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025069269/ea0250670-8k_mawson.htm">July
                                                                    30, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390025074951/ea0252576-8k_mawson.htm">August 12,
                                                                    2025</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000117184325005942/f8k_091725.htm">September 17, 2025</A> (excluding information furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits filed on such form
                                                                    that are related to such items); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the description of the Common Stock contained in the Company&rsquo;s
                                            registration statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390021050217/ea148019-8a12b_mawsoninfra.htm">Form 8-A</A>, filed with the SEC on September 28, 2021, and all amendments
                                            or reports filed for the purpose of updating such description, including <A HREF="http://www.sec.gov/Archives/edgar/data/1218683/000121390023022430/f10k2022ex4-2_mawson.htm">Exhibit 4.2</A> of the
                                            Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended December 31, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All other reports and documents filed by the
Company pursuant to Sections 13(a), 13(c), 14 and/or 15(d) of the Exchange Act (other than Current Reports furnished under Item 2.02
or Item 7.01 of Form 8-K and exhibits furnished on such form that relate to such items) shall be deemed to be incorporated by reference
into this prospectus supplement and to be a part hereof from the date of filing such reports and documents with the SEC until the offering
of the securities under this prospectus supplement is terminated or completed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You may request, and we will provide you with,
a copy of these filings, at no cost, by calling us at (412) 515-0896 or by writing to us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Mawson Infrastructure Group Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Attention: Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">950 Railroad Ave., Midland, Pennsylvania 15059</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Exhibits to the filings will not be sent, however, unless those exhibits
have specifically been incorporated by reference in this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MAWSON INFRASTRUCTURE GROUP INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Debt Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$50,000,000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may offer and sell up to $50,000,000 in the aggregate of the securities
identified above from time to time in one or more offerings. This prospectus provides you with a general description of the securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each time we offer and sell securities, we will provide a supplement
to this prospectus that contains specific information about the offering and the amounts, prices and terms of the securities. The supplement
may also add, update or change information contained in this prospectus with respect to that offering. You should carefully read this
prospectus and the applicable prospectus supplement, together with the documents we incorporate by reference, before you invest in any
of our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may offer and sell the securities described in this prospectus and
any prospectus supplement to or through one or more underwriters, dealers and agents, or directly to purchasers, or through a combination
of these methods. If any underwriters, dealers or agents are involved in the sale of any of the securities, their names and any applicable
purchase price, fee, commission or discount arrangement between or among them will be set forth, or will be calculable from the information
set forth, in the applicable prospectus supplement. See the sections of this prospectus entitled &ldquo;About this Prospectus&rdquo; and
&ldquo;Plan of Distribution&rdquo; for more information. No securities may be sold without delivery of this prospectus and the applicable
prospectus supplement describing the method and terms of the offering of such securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>INVESTING IN OUR SECURITIES INVOLVES RISKS. SEE THE &ldquo;RISK
FACTORS&rdquo; SECTION ON PAGE 2 OF THIS PROSPECTUS AND ANY SIMILAR SECTION CONTAINED IN THE APPLICABLE PROSPECTUS SUPPLEMENT AND THE
OTHER DOCUMENTS THAT ARE INCORPORATED BY REFERENCE INTO THIS PROSPECTUS CONCERNING FACTORS YOU SHOULD CONSIDER BEFORE INVESTING IN OUR
SECURITIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our common stock, par value $0.001 per share (&ldquo;Common Stock&rdquo;),
is quoted on The Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;) under the symbol &ldquo;MIGI.&rdquo; On September 2, 2025, the last
reported sale price of our Common Stock on Nasdaq was $0.40 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the date of this prospectus, the aggregate market value of our
outstanding Common Stock held by non-affiliates, or the public float, was $8,338,441, which was calculated based on 20,846,102 outstanding
shares of Common Stock held by non-affiliates at a price of $0.40 per share, the closing price of our Common Stock on September 2,
2025, as reported on Nasdaq. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities registered on this
registration statement with a value of more than one-third of the aggregate market value of shares of our Common Stock held by non-affiliates
in any 12-month period, so long as the aggregate market value of shares of our Common Stock held by non-affiliates is less than $75,000,000.
During the 12 calendar months prior to, and including, the date of this prospectus, we have not sold any securities pursuant to General
Instruction I.B.6 of Form S-3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a &ldquo;smaller reporting company&rdquo; as defined under the
federal securities laws and, under applicable rules of the Securities and Exchange Commission, we have elected to comply with certain
reduced public company reporting and disclosure requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation
to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>The date of this prospectus
is September 15, 2025.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.2pt; text-align: center"><B>TABLE OF CONTENTS<SUP></SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.2pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: center; width: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; text-align: center; width: 10%"><B>Page</B></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></TD>
    <TD STYLE="text-align: center">ii</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#a_002">PROSPECTUS SUMMARY</A></TD>
    <TD STYLE="text-align: center">1</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_003">RISK FACTORS</A></TD>
    <TD STYLE="text-align: center">2</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#anew_001">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: center">3</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_004">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: center">5</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#a_005">DESCRIPTION OF CAPITAL STOCK WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">6</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_006">DESCRIPTION OF DEBT SECURITIES WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">10</TD></TR>
<TR STYLE="background-color: White">
    <TD><A HREF="#a_007">DESCRIPTION OF WARRANTS WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">19</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_008">DESCRIPTION OF UNITS WE MAY OFFER</A></TD>
    <TD STYLE="text-align: center">22</TD></TR>
<TR STYLE="background-color: White">
    <TD><A HREF="#a_009">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="text-align: center">23</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_010">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: center">25</TD></TR>
<TR STYLE="background-color: White">
    <TD><A HREF="#a_011">EXPERTS</A></TD>
    <TD STYLE="text-align: center">25</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD><A HREF="#a_012">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: center">25</TD></TR>
  <TR STYLE="background-color: White">
    <TD><A HREF="#a_013">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD>
    <TD STYLE="text-align: center">26</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A><B>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus is part of a registration statement
that we filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;), using a &ldquo;shelf&rdquo; registration process.
By using a shelf registration statement, we may sell securities from time to time and in one or more offerings up to a total dollar amount
of $50,000,000 of securities as described in this prospectus. Each time that we offer and sell securities, we will provide a prospectus
supplement to this prospectus that contains specific information about the securities being offered and sold and the specific terms of
that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information
relating to these offerings. The prospectus supplement or free writing prospectus may also add, update or change information contained
in this prospectus with respect to that offering. If there is any inconsistency between the information in this prospectus and the applicable
prospectus supplement or free writing prospectus, you should rely on the prospectus supplement or free writing prospectus, as applicable.
Before purchasing any securities, you should carefully read both this prospectus and the applicable prospectus supplement (and any applicable
free writing prospectus), together with the additional information described under the headings &ldquo;Where You Can Find More Information&rdquo;
and &ldquo;Incorporation by Reference.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have not authorized anyone to provide you with
any information or to make any representations other than those contained in this prospectus, any applicable prospectus supplement or
any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can
provide no assurance as to the reliability of, any other information that others may give you. We will not make an offer to sell these
securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus
and the applicable prospectus supplement to this prospectus is accurate only as of the date on its respective cover, that the information
appearing in any applicable free writing prospectus is accurate only as of the date of that free writing prospectus, and that any information
incorporated by reference is accurate only as of the date of the document incorporated by reference, unless we indicate otherwise. Our
business, financial condition, results of operations and prospects may have changed since those dates. This prospectus incorporates by
reference, and any prospectus supplement or free writing prospectus may contain and incorporate by reference, market data and industry
statistics and forecasts that are based on independent industry publications and other publicly available information. Although we believe
these sources are reliable, we do not guarantee the accuracy or completeness of this information and we have not independently verified
this information. In addition, the market and industry data and forecasts that may be included or incorporated by reference in this prospectus,
any prospectus supplement or any applicable free writing prospectus may involve estimates, assumptions and other risks and uncertainties
and are subject to change based on various factors, including those discussed under the heading &ldquo;Risk Factors&rdquo; contained in
this prospectus, the applicable prospectus supplement and any applicable free writing prospectus, and under similar headings in other
documents that are incorporated by reference into this prospectus. Accordingly, investors should not place undue reliance on this information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Solely for convenience, our trademarks and tradenames
referred to in this prospectus may appear without the &reg; or &trade; symbols, but such references are not intended to indicate in any
way that we will not assert, to the fullest extent under applicable law, our rights to these trademarks and tradenames. All other trademarks,
service marks, and trade names included or incorporated by reference into this prospectus are the property of their respective owners.</P>




<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<DIV STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_002"></A><B>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>This summary highlights certain information about us and selected
information contained elsewhere in or incorporated by reference into this prospectus. This summary is not complete and does not contain
all of the information that you should consider before investing in any of our securities. Before investing in our securities, you should
read this entire prospectus, the applicable prospectus supplement and any related free-writing prospectus carefully, including the risks
of investing in our securities discussed under the heading &ldquo;Risk Factors&rdquo; contained in the applicable prospectus supplement
and any related free writing prospectus, and under similar headings in the other documents that are incorporated by reference into this
prospectus. Unless the context indicates otherwise, references in this prospectus to the terms &ldquo;we&rdquo;, &ldquo;us&rdquo;, &ldquo;our&rdquo;,
the &ldquo;Company&rdquo;, &ldquo;Mawson&rdquo; and &ldquo;our company&rdquo; refer to Mawson Infrastructure Group Inc., a Delaware corporation
headquartered in the United States of America, and its consolidated subsidiaries. When we refer to &ldquo;you,&rdquo; we mean the potential
holders of the applicable series of securities.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a technology company focused on digital
infrastructure platforms, headquartered in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 9, 2021, the Company acquired the shares
of Cosmos Capital Limited (now known as Mawson Infrastructure Group Pty Ltd and referred to herein as &ldquo;Mawson PL&rdquo;) in a stock
for stock exchange. This transaction has been accounted for as a reverse asset acquisition. Shares of the Company&rsquo;s common stock,
par value $0.001 per share (&ldquo;Common Stock&rdquo;), have been listed on The Nasdaq Capital Market (&ldquo;Nasdaq&rdquo;) since September
29, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company develops and operates digital infrastructure
platforms for enterprise customers and for its own purposes. The Company&rsquo;s digital infrastructure platforms can be used to operate
computing resources for a number of applications, and are offered across artificial intelligence (&ldquo;AI&rdquo;), high-performance
computing (&ldquo;HPC&rdquo;), digital assets, and other computing applications. The Company also has an energy management business, which
utilizes software and analysis, to generate revenue when the Company participates in energy management program related to the real-time
needs of the grid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company has a strategy to prioritize the usage
of carbon-free energy sources, including nuclear energy, to power its digital infrastructure platforms and computational machines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company manages and operates digital infrastructure
platforms and data centers delivering a total current capacity of approximately 129 megawatts (&ldquo;MW&rdquo;) with its current operational
sites with an additional 24 MW of future capacity that is under development, all strategically located in locations served by the Pennsylvania-New
Jersey-Maryland Interconnection (&ldquo;PJM&rdquo;) Energy Market in the United States of America (the &ldquo;PJM Energy Market&rdquo;).
The PJM Energy Market is amongst the largest wholesale power markets in North America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Implications of Being a Smaller Reporting Company </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a &ldquo;smaller reporting company&rdquo;
as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;). We may take advantage
of certain of the scaled disclosures available to smaller reporting companies and will be able to take advantage of these scaled disclosures
for so long as our voting and non-voting Common Stock held by non-affiliates is less than $250,000,000 measured on the last business day
of our second fiscal quarter, or our annual revenue is less than $100,000,000 during the most recently completed fiscal year and our voting
and non-voting Common Stock held by non-affiliates is less than $700,000,000 measured on the last business day of our second fiscal quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Corporate Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We were incorporated in the State of Delaware on
February 10, 2012, originally under the name Opthalix Inc., and changed our corporate name to Wize Pharma, Inc. on November 15, 2017.
On March 17, 2021, we changed our corporate name to Mawson Infrastructure Group Inc. to reflect our acquisition of Mawson Infrastructure
Group Pty Ltd., an Australian company (formerly known as Cosmos Capital Limited), and its subsidiaries on March 9, 2021. On April 27,
2021, we changed our trading symbol to &ldquo;MIGI&rdquo;. Shares of our Common Stock have been listed on Nasdaq since September 29, 2021.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our executive offices are located at 950 Railroad
Avenue, Midland, Pennsylvania 15059. Our telephone number is (412) 515-0896 and our internet address is www.mawsoninc.com. The information
on, or that may be accessed from, our website is not a part of this prospectus.</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_003"></A><B>RISK FACTORS</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Investment in any securities offered pursuant to
this prospectus and the applicable prospectus supplement involves risks. You should carefully consider the risk factors incorporated by
reference to our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and any subsequent Annual Reports on Form
10-K, Quarterly Reports on Form 10-Q or Current Reports on Form 8-K we file after the date of this prospectus, and all other information
contained in or incorporated by reference into this prospectus, all as updated by our subsequent filings under the Exchange Act, and the
risk factors and other information contained in the applicable prospectus supplement and any applicable free writing prospectus before
acquiring any of such securities. The occurrence of any of these risks might cause you to lose all or part of your investment in the offered
securities.</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="anew_001"></A>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus and the documents incorporated
by reference herein contain forward-looking statements about our expectations, beliefs or intentions regarding, among other things, our
product development efforts, business, financial condition, results of operations, strategies or prospects. Forward-looking statements
can be identified by the use of forward-looking words such as &ldquo;believe&rdquo;, &ldquo;expect&rdquo;, &ldquo;intend&rdquo;, &ldquo;plan&rdquo;,
&ldquo;may&rdquo;, &ldquo;should&rdquo;, &ldquo;could&rdquo; or &ldquo;anticipate&rdquo; or their negatives or other variations of these
words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking
statements may be included in, but are not limited to, various filings made by us with the SEC, press releases or oral statements made
by or with the approval of one of our authorized executive officers. Forward-looking statements relate to anticipated or expected events,
activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred,
these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future
results expressed or implied by the forward-looking statements. Many factors could cause our actual activities or results to differ materially
from the activities and results anticipated in forward-looking statements, including, but not limited to, the factors summarized below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus and the documents incorporated
or deemed to be incorporated by reference herein identifies important factors which could cause our actual results to differ materially
from those indicated by the forward-looking statements, particularly those the risk factors incorporated by reference above. The risk
factors incorporated by reference above are not necessarily all of the important factors that could cause actual results to differ materially
from those expressed in any of our forward-looking statements. Given these uncertainties, you are cautioned not to place undue reliance
on such forward-looking statements. Factors that could cause our actual results to differ materially from those expressed or implied in
such forward-looking statements include, but are not limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>continued evolution and uncertainty related to technologies and digital infrastructure;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our ability to continue as a going concern;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our ability to cure any continued listing deficiencies and maintain the listing of our Common Stock on Nasdaq;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the availability of our &ldquo;at-the-market&rdquo; program and our ability or inability to secure additional funds through equity
financing transactions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 74.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>access to reliable and reasonably priced electricity sources;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 74.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>operational, maintenance, repair, safety, and construction risks;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the failure or breakdown of mining equipment, or internet connection failure;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our reliance on key management personnel and employees;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our ability to attract or retain the talent needed to sustain or grow the business;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our ability to develop and execute on our business strategy and plans;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>counterparty risks related to our customers, agreements and/or contracts;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>adverse actions by creditors, debt providers, or other parties;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>continued evolution and uncertainty related to growth in blockchain and Bitcoin and other digital assets&rsquo; usage;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>high volatility in Bitcoin and other digital assets&rsquo; prices and in value attributable to our business;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our need to, and difficulty in, raising additional debt or equity capital and the availability of financing opportunities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>failure to maintain required compliance to remain eligible for the most cost-effective forms of raising additional equity capital;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 74.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the evolution of AI and HPC market and changing technologies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the slower than expected growth in demand for AI, HPC and other accelerated computing technologies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the ability to timely implement and execute on AI and HPC digital infrastructure contracts or deployment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the ability to timely complete the digital infrastructure build-out in order to achieve its revenue expectations for the periods mentioned;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>downturns in the digital assets industry;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>counterparty risks and risks of delayed or delinquent payments from customers and others;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>inflation, economic or political environment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>cyber-security threats;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our ability to obtain proper insurance;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>banks and other financial institutions ceasing to provide services to our industry;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>changes to the Bitcoin and/or other networks&rsquo; protocols and software;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the decrease in the incentive or increased network difficulty to mine Bitcoin;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the increase of transaction fees related to digital assets:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the fraud or security failures of large digital asset exchanges;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the regulation and taxation of digital assets like Bitcoin;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our ability to timely and effectively implement controls and procedures required by Section 404 of the Sarbanes-Oxley Act of 2002;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>material litigation, investigations, or enforcement actions, including by regulators and governmental authorities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All forward-looking statements attributable to
us or persons acting on our behalf speak only as of the date of this prospectus and are expressly qualified in their entirety by the cautionary
statements included in this prospectus. We undertake no obligation to update or revise forward-looking statements to reflect events or
circumstances that arise after the date made or to reflect the occurrence of unanticipated events. In evaluating forward-looking statements,
you should consider these risks and uncertainties.</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_004"></A><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We intend to use the net proceeds from the sale
of the securities as set forth in the applicable prospectus supplement. We will retain broad discretion over the use of the net proceeds
to us from the sale of our securities under this prospectus.</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_005"></A><B>DESCRIPTION OF CAPITAL STOCK WE MAY OFFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>The following summary is a description of the material terms of
our capital stock. Because it is only a summary, it does not contain all the information that may be important to you and is subject to
and qualified in its entirety by reference to our Certificate of Incorporation, as amended (&ldquo;Certificate of Incorporation&rdquo;),
our Bylaws, as amended (&ldquo;Bylaws&rdquo;), the provisions of any applicable certificates of designations and the applicable provisions
of the Delaware General Corporation Law (&ldquo;DGCL&rdquo;). Copies of our Certificate of Incorporation and our Bylaws have been publicly
filed with the SEC. We encourage you to read our Certificate of Incorporation, our Bylaws, and the applicable provisions of the DGCL for
additional information.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Authorized Capital Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under our Certificate of Incorporation, we are
authorized to issue up to ninety million (90,000,000) shares of Common Stock and one million (1,000,000) shares of preferred stock, par
value $0.001 per share (&ldquo;Preferred Stock&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Dividend Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to preferences that may be applicable to
any outstanding shares of Preferred Stock, holders of our Common Stock are entitled to receive dividends, if any, as may be declared from
time to time by our Board of Directors (the &ldquo;Board&rdquo;) out of our assets which are legally available. Such dividends, if any,
are payable in cash, in property or in shares of capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Voting Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of our Common Stock are entitled to one
vote for each share held on all matters submitted to a vote of our stockholders. Holders of our Common Stock have no cumulative voting
rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holders of shares of our Common Stock that
are entitled to cast at least 33<FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT>/<FONT STYLE="font-size: 10pt"><SUB>3</SUB></FONT> of
the total votes entitled to be cast by the holders of all of our outstanding capital stock, present in person or by proxy, are necessary
to constitute a quorum at any meeting. If a quorum is present, an action by stockholders entitled to vote on a matter is approved if the
number of votes cast in favor of the action exceeds the number of votes cast in opposition to the action, with the exception of the election
of directors, which requires a plurality of the votes cast, represented in person or by proxy, necessary to constitute a quorum for the
transaction of business at any meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Liquidation Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon our liquidation, dissolution or winding-up,
holders of our Common Stock are entitled to share in all assets remaining after payment of all liabilities and the liquidation preferences
of any of our outstanding shares of Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Other Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of our Common Stock have no preemptive
or conversion rights or other subscription rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Rights and Preferences of Preferred Stock May Be Senior to Rights
and Preferences of Common Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Board may authorize the issuance of Preferred
Stock with voting or conversion rights that could harm the voting power or other rights of the holders of the Common Stock. The issuance
of Preferred Stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other
things, have the effect of delaying, deferring or preventing a change in control of us and might harm the market price of our Common Stock
and the voting and other rights of the holders of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Preferred Stock may be issued without stockholder
approval, from time to time in one or more series, each series to be appropriately designated by a distinguishing letter or title prior
to the issuance of any shares thereof, as determined by our Board. Our Certificate of Incorporation expressly authorizes (subject to the
rights of the holders of any series of Preferred Stock pursuant to the terms of our Certificate of Incorporation or any resolution or
resolutions providing for the issuance of such series of stock adopted by the Board) the increase or decrease (but not below the number
of shares of such series then outstanding) of the number of shares of any series subsequent to the issuance of shares of that series by
the affirmative vote of the holders of a majority of the Common Stock irrespective of the provisions of Section 242(b)(2) of the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Preferred Stock may be issued from time to time,
in one or more series, as authorized by the Board, without stockholder approval. The prospectus supplement relating to the shares of Preferred
Stock offered thereby will include specific terms of any preferred shares offered, including, if applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the title of the shares of Preferred Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the number of shares of Preferred Stock offered, the liquidation preference per share and the offering price of the shares of Preferred
Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the dividend rate(s), period(s) and/or payment date(s) or method(s) of calculation thereof applicable to the shares of Preferred Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>whether the dividends on shares of Preferred Stock are cumulative or not and, if cumulative, the date from which dividends on the
shares of Preferred Stock shall accumulate;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the procedures for any auction and remarketing, if any, for the shares of Preferred Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the provision for a sinking fund, if any, for the shares of Preferred Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the provision for redemption or repurchase, if applicable, and any restrictions on our ability to exercise those redemption and repurchase
rights of the shares of Preferred Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any listing of the shares of Preferred Stock on any securities exchange;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the terms and conditions, if applicable, upon which the shares of Preferred Stock will be convertible into common shares, including
the conversion price (or manner of calculation thereof);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>discussion of federal income tax considerations applicable to the shares of Preferred Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the relative ranking and preferences of the shares of Preferred Stock as to dividend rights and rights upon liquidation, dissolution
or winding up of our affairs;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any limitations on issuance of any series or class of shares of Preferred Stock ranking senior to or on a parity with such series
or class of shares of Preferred Stock as to dividend rights and rights upon liquidation, dissolution or winding up of our affairs;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any other specific terms, preferences, rights, limitations or restrictions of the shares of Preferred Stock; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any voting rights of such Preferred Stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The transfer agent and registrar for any series
or class of Preferred Stock will be set forth in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Anti-Takeover Provisions of Delaware Law, Our Certificate of Incorporation
and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Certain provisions of Delaware law, our Certificate
of Incorporation and our Bylaws could discourage or make it more difficult to accomplish a proxy contest or other change in our management
or the acquisition of control by a holder of a substantial amount of our voting stock. It is possible that these provisions could make
it more difficult to accomplish, or could deter, transactions that stockholders may otherwise consider to be in their best interests or
in our best interests. These provisions are intended to enhance the likelihood of continuity and stability in the composition of our Board
and in the policies formulated by our Board and to discourage certain types of transactions that may involve an actual or threatened change
of our control. These provisions are designed to reduce our vulnerability to an unsolicited acquisition proposal and to discourage certain
tactics that may be used in proxy fights. Such provisions also may have the effect of preventing changes in our management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Delaware Statutory Business Combinations Provision</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Certificate of Incorporation provides that
the Company is not governed by Section 203 of the DGCL which, in the absence of such provisions, would have imposed additional requirements
regarding mergers and other business combinations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Advance Notice Provisions for Stockholder Proposals and Stockholder
Nominations of Directors</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Bylaws provide that, for nominations to our
Board or for other business to be properly brought by a stockholder before an annual meeting of stockholders, the stockholder must first
have given timely notice of the proposal in writing to our secretary at our principal executive offices. For an annual meeting, a stockholder&rsquo;s
notice must be delivered not less than 45 days nor more than 75 days prior to the one-year anniversary of the date on which we first mailed
our proxy materials for the preceding year&rsquo;s annual meeting of stockholders; provided, however, that if the meeting is convened
more than 30 days prior to or delayed by more than 30 days after the anniversary of the preceding year&rsquo;s annual meeting, or if no
annual meeting was held in the preceding year, notice by a stockholder to be timely must be received not later than the close of business
on the later of (i) the 90th day before such annual meeting or (ii) the 10th day following the day on which public announcement of the
date of such meeting is first made. Detailed requirements as to the form of the notice and information required in the notice are specified
in our Bylaws. If it is determined that business was not properly brought before a meeting in accordance with our Bylaws, such business
will not be conducted at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Special Meetings of Stockholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Special meetings of the stockholders may be called
only by either (i) the chairman of our Board, chief executive officer, or the president, (ii) by our Board pursuant to a resolution adopted
by a majority of the total number of directors which we would have if there were no vacancies, or (iii) by the holders of 20% of the total
votes entitled to be cast by the holders of all our outstanding capital stock entitled to vote generally in an election of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Super Majority Stockholder Vote Required for Certain Actions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The DGCL generally provides that the affirmative
vote of a majority of the shares entitled to vote on any matter is required to amend a corporation&rsquo;s certificate of incorporation
or bylaws, unless the corporation&rsquo;s certificate of incorporation or bylaws, as the case may be, requires a greater percentage. Our
Certificate of Incorporation requires the affirmative vote of the holders of at least 66<FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT>/<FONT STYLE="font-size: 10pt"><SUB>3</SUB></FONT>
of our outstanding voting stock to amend or repeal any provision of our Bylaws or any amend or repeal any provision of Article V of our
Certificate of Incorporation, relating to limitation of director liability, indemnification and advancement of expenses, or Article VIII
of our Certificate of Incorporation, amendments to our Certificate of Incorporation or our Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Choice of Forum </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Certificate of Incorporation provides that,
unless we consent in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding
brought on behalf of the Company, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other
employee of the Company to the Company or the Company&rsquo;s stockholders, (iii) any action asserting a claim arising pursuant to any
provision of the DGCL, or (iv) any action asserting a claim governed by the internal affairs doctrine shall be a state or federal court
located within the state of Delaware, in all cases subject to the court&rsquo;s having personal jurisdiction over the indispensable parties
named as defendants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The forum selection provisions in our Bylaws may
limit our stockholders&rsquo; ability to litigate disputes with us in a judicial forum that they find favorable for disputes with us or
our directors, officers or employees, which may discourage the filing of lawsuits against us and our directors, officers and employees,
even though an action, if successful, might benefit our stockholders. In addition, these forum selection provisions may impose additional
litigation costs for stockholders who determine to pursue any such lawsuits against us. However, it is possible that a court could find
the Company&rsquo;s forum selection provision to be inapplicable or unenforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Stockholders Not Entitled to Cumulative Voting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Certificate of Incorporation does not
permit stockholders to cumulate their votes in the election of directors, which limits the ability of minority stockholders to elect
director candidates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Filling of Vacancies </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any vacancies on our Board, however occurring,
including a vacancy resulting from an increase in the size of our Board, may be filled exclusively pursuant to a resolutions adopted by
the Board, and may not be filled by the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Dissenters&rsquo; Rights of Appraisal and Payment </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the DGCL, with certain exceptions, our stockholders
have appraisal rights in connection with a merger or consolidation of the Company. Under the DGCL, stockholders who properly request and
perfect appraisal rights in connection with such merger or consolidation will have the right to receive payment of the fair value of their
shares as determined by the Delaware Court of Chancery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Certain Effects of Authorized but Unissued Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have shares of Common Stock and Preferred
Stock available for future issuance without stockholder approval. We may issue these additional shares for a variety of corporate
purposes, including future public or private offerings to raise additional capital or to facilitate corporate acquisitions or for
payment as a dividend on our capital stock. The existence of unissued and unreserved Preferred Stock may enable our Board to issue
shares of Preferred Stock with terms that could render more difficult or discourage a third-party attempt to obtain control of us by
means of a merger, tender offer, proxy contest or otherwise, thereby protecting the continuity of our management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, if we issue Preferred Stock, the issuance
could adversely affect the voting power of holders of Common Stock and the likelihood that holders of our Common Stock will receive dividend
payments or payments upon liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have not declared any cash dividends on our
Common Stock since inception.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The transfer agent and registrar for our Common
Stock is Computershare Trust Company, N.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Stock Market Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Common Stock is currently listed on Nasdaq
and trades under the symbol &ldquo;MIGI.&rdquo;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_006"></A><B>DESCRIPTION OF DEBT SECURITIES WE MAY OFFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following description, together with the additional
information we include in any applicable prospectus supplements or free writing prospectuses, summarizes the material terms and provisions
of the debt securities that we may offer under this prospectus. We may issue debt securities, in one or more series, as either senior
or subordinated debt or as senior or subordinated convertible debt. While the terms we have summarized below will apply generally to any
future debt securities we may offer under this prospectus, we will describe the particular terms of any debt securities that we may offer
in more detail in the applicable prospectus supplement or free writing prospectus. The terms of any debt securities we offer under a prospectus
supplement may differ from the terms we describe below. Unless the context requires otherwise, whenever we refer to the &ldquo;indenture,&rdquo;
we also are referring to any supplemental indentures that specify the terms of a particular series of debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will issue any debt securities under an indenture
that we will enter into with the trustee named in the applicable prospectus supplement. We have filed a form of the indenture as an exhibit
to the registration statement of which this prospectus is a part and supplemental indentures and forms of debt securities containing the
terms of the debt securities being offered will be filed as exhibits to the registration statement of which this prospectus is a part
or will be incorporated by reference to reports that we file with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The indentures will be qualified under the Trust
Indenture Act of 1939, as amended (the &ldquo;Trust Indenture Act&rdquo;). We use the term &ldquo;trustee&rdquo; to refer to either the
trustee under the senior indenture or the trustee under the subordinated indenture, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following summaries of material provisions
of the senior debt securities, the subordinated debt securities and the indenture are not complete and are subject to, and qualified in
their entirety by reference to, all of the provisions of the indenture and any supplemental indentures applicable to a particular series
of debt securities. We urge you to read the applicable prospectus supplements and any related free writing prospectuses related to the
debt securities that we may offer under this prospectus, as well as the complete indenture that contains the terms of the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The terms of each series of debt securities will
be established by or pursuant to a resolution of our Board and set forth or determined in the manner provided in an officers&rsquo; certificate
or by a supplemental indenture. Debt securities may be issued in separate series without limitation as to aggregate principal amount.
We may specify a maximum aggregate principal amount for the debt securities of any series. We will describe in the applicable prospectus
supplement the terms of the series of debt securities being offered, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the title;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the principal amount being offered, and if a series, the total amount authorized and the total amount outstanding;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any limit on the amount that may be issued;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>whether or not we will issue the series of debt securities in global form, and, if so, the terms and who the depositary will be;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the maturity date;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>whether and under what circumstances, if any, we will pay additional amounts on any debt securities held by a person who is not a
U.S. person for tax purposes, and whether we can redeem the debt securities if we have to pay such additional amounts;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the annual interest rate, which may be fixed or variable, or the method for determining the rate and the date interest will begin
to accrue, the dates interest will be payable and the regular record dates for interest payment dates or the method for determining such
dates;</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the terms of the subordination of any series of subordinated debt;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the place where payments will be payable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>restrictions on transfer, sale or other assignment, if any;</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our right, if any, to defer payment of interest and the maximum length of any such deferral period;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the date, if any, after which, and the price at which, we may, at our option, redeem the series of debt securities pursuant to any
optional or provisional redemption provisions and the terms of those redemption provisions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>provisions for a sinking fund purchase or other analogous fund, if any, including the date, if any, on which, and the price at which
we are obligated, pursuant thereto or otherwise, to redeem, or at the holder&rsquo;s option, to purchase, the series of debt securities
and the currency or currency unit in which the debt securities are payable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>provisions relating to modification of the terms of the security or the rights of the security holder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>whether the indenture will restrict our ability or the ability of our subsidiaries to:</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>incur additional indebtedness;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>issue additional securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>create liens;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>pay dividends or make distributions in respect of our capital stock or the capital stock of our subsidiaries;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>redeem capital stock;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>place restrictions on our subsidiaries&rsquo; ability to pay dividends, make distributions or transfer assets;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>make investments or other restricted payments;</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>sell, transfer or otherwise dispose of assets;</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>enter into sale-leaseback transactions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>engage in transactions with stockholders or affiliates;</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>issue or sell stock of our subsidiaries; or</TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>effect a consolidation or merger;</TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>whether the indenture will require us to maintain any interest coverage, fixed charge, cash flow-based, asset-based or other financial
ratios;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 5.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 5.15pt"></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>information describing any book-entry features;</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the applicability of the provisions in the indenture on discharge;</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>whether the debt securities are to be offered at a price such that they will be deemed to be offered at an &ldquo;original issue discount&rdquo;
as defined in paragraph (a) of Section 1273 of the Internal Revenue Code of 1986, as amended;</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the denominations in which we will issue the series of debt securities, if other than denominations of $1,000 and any integral multiple
thereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the currency of payment of debt securities if other than U.S. dollars and the manner of determining the equivalent amount in U.S.
dollars; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any other specific terms, preferences, rights or limitations of, or restrictions on, the debt securities, including any additional
events of default or covenants provided with respect to the debt securities, and any terms that may be required by us or advisable under
applicable laws or regulations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">U.S. federal income tax consequences applicable to debt securities
sold at an original issue discount will be described in the applicable prospectus supplement. In addition, U.S. federal income tax or
other consequences applicable to any debt securities which are denominated in a currency or currency unit other than U.S. dollars may
be described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Conversion or Exchange Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will set forth in the applicable prospectus
supplement the terms under which a series of debt securities may be convertible into or exchangeable for our Common Stock, our Preferred
Stock or other securities (including securities of a third party). We will include provisions as to whether conversion or exchange is
mandatory, at the option of the holder or at our option. We may include provisions pursuant to which the number of shares of our Common
Stock, our Preferred Stock or other securities (including securities of a third party) that the holders of the series of debt securities
receive would be subject to adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidation, Merger or Sale</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless we provide otherwise in the prospectus supplement
applicable to a particular series of debt securities, the indentures will not contain any covenant that restricts our ability to merge
or consolidate, or sell, convey, transfer or otherwise dispose of all or substantially all of our assets. However, any successor to or
acquirer of such assets must assume all of our obligations under the indentures or the debt securities, as appropriate. If the debt securities
are convertible into or exchangeable for our other securities or securities of other entities, the person with whom we consolidate or
merge or to whom we sell all of our assets must make provisions for the conversion of the debt securities into securities that the holders
of the debt securities would have received if they had converted the debt securities before the consolidation, merger or sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Events of Default under the Indenture</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless we provide otherwise in the prospectus supplement
applicable to a particular series of debt securities, the following are events of default under the indentures with respect to any series
of debt securities that we may issue:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>if we fail to pay interest when due and payable and our failure continues for 30 days and the time for payment has not been extended;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>if we fail to pay the principal, premium or sinking fund payment, if any, when due and payable and the time for payment has not been
extended;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>if we fail to observe or perform any other covenant contained in the debt securities or the indentures, other than a covenant specifically
relating to another series of debt securities, and our failure continues for 90 days after we receive notice from the trustee or we and
the trustee receive notice from the holders of at least 25% in aggregate principal amount of the outstanding debt securities of the applicable
series; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>if specified events of bankruptcy, insolvency or reorganization occur.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will describe in each applicable prospectus
supplement any additional events of default relating to the relevant series of debt securities. If an event of default with respect to
debt securities of any series occurs and is continuing, other than an event of default specified in the last bullet point above, the trustee
or the holders of at least 25% in aggregate principal amount of the outstanding debt securities of that series, by notice to us in writing,
and to the trustee if notice is given by such holders, may declare the unpaid principal, premium, if any, and accrued interest, if any,
due and payable immediately. If an event of default arises due to the occurrence of certain specified bankruptcy, insolvency or reorganization
events, the unpaid principal, premium, if any, and accrued interest, if any, of each issue of debt securities then outstanding shall be
due and payable without any notice or other action on the part of the trustee or any holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The holders of a majority in principal amount of
the outstanding debt securities of an affected series may waive any default or event of default with respect to the series and its consequences,
except defaults or events of default regarding payment of principal, premium, if any, or interest, unless we have cured the default or
event of default in accordance with the indenture. Any such waiver shall cure the default or event of default.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the terms of the applicable indenture,
if an event of default under an indenture shall occur and be continuing, the trustee will be under no obligation to exercise any of its
rights or powers under such indenture at the request or direction of any of the holders of the applicable series of debt securities, unless
such holders have offered the trustee reasonable indemnity or security satisfactory to it against any loss, liability or expense. The
holders of a majority in principal amount of the outstanding debt securities of any series will have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the trustee, or exercising any trust or power conferred on the trustee,
with respect to the debt securities of that series, provided that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the direction so given by the holders is not in conflict with any law or the applicable indenture; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>subject to its duties under the Trust Indenture Act, the trustee need not take any action that might subject it to personal liability
or might be unduly prejudicial to the holders not involved in the proceeding.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless we provide otherwise in the prospectus supplement
applicable to a particular series of debt securities, the indentures will provide that if an event of default has occurred and is continuing,
the trustee will be required in the exercise of its powers to use the degree of care that a prudent person would use in the conduct of
its own affairs. The trustee, however, may refuse to follow any direction that conflicts with law or the indenture, or that the trustee
determines is unduly prejudicial to the rights of any other holder of the relevant series of debt securities, or that would subject the
trustee to personal liability. Prior to taking any action under the indentures, the trustee will be entitled to indemnification against
all costs, expenses and liabilities that would be incurred by taking or not taking such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A holder of the debt securities of any series will
have the right to institute a proceeding under the indentures or to appoint a receiver or trustee, or to seek other remedies only if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the holder has given written notice to the trustee of a continuing event of default with respect to that series;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the holders of at least 25% in aggregate principal amount of the outstanding debt securities of that series have made a written request
and such holders have offered reasonable indemnity to the trustee or security satisfactory to it against any loss, liability or expense
to be incurred in compliance with instituting the proceeding as trustee; and</TD></TR></TABLE>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the trustee does not institute the proceeding, and does not receive from the holders of a majority in aggregate principal amount of
the outstanding debt securities of that series other conflicting directions within 60 days after the notice, request and offer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These limitations do not apply to a proceeding
instituted by a holder of debt securities if we default in the payment of the principal, premium, if any, or interest on, the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will periodically deliver certificates to the
trustee regarding our compliance with specified covenants in the indentures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless we provide otherwise in the prospectus
supplement applicable to a particular series of debt securities, the indentures will provide that if a default occurs and is continuing
and is actually known to a responsible officer of the trustee, the trustee must mail to each holder notice of the default within 90 days
after it occurs, unless such default has been cured. Except in the case of a default in the payment of principal or premium of, or interest
on, any debt security or certain other defaults specified in an indenture, the trustee shall be protected in withholding such notice if
and so long as the trustee in good faith determines that withholding notice is in the best interests of holders of the relevant series
of debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Modification of Indenture; Waiver</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the terms of the indenture for any
series of debt securities that we may issue, we and the trustee may change an indenture without the consent of any holders with respect
to the following specific matters:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to fix any ambiguity, defect or inconsistency in the indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to comply with the provisions described above under &ldquo;-Consolidation, Merger or Sale&rdquo;;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to provide for uncertificated debt securities in addition to or in place of certificated debt securities and to make all appropriate
changes for such purpose;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to add to the covenants of the Company or any guarantor for the benefit of the holders of the debt securities of any series or to
surrender any right or power conferred upon the Company or any guarantor;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to provide for the issuance of additional debt securities of any series in accordance with the terms of the indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to evidence and provide for the acceptance of appointment under the indenture by a successor trustee;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to comply with any requirements of the SEC in connection with the qualification of any indenture under the Trust Indenture Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to provide security for the debt securities of any series or to provide for any guarantee of the debt securities of any series or
to confirm or evidence the release, termination or discharge of any guarantee of or lien securing the debt securities of any series when
such release, termination or discharge is permitted by the indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to make any change that would provide any additional rights or benefits to the holders of the debt securities of any series or that
does not adversely affect the legal rights under the indenture of any holder;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to make any amendment to the provision of the indenture relating to the transfer and legending of the debt securities of any series,
subject to certain exceptions; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>to make certain other modifications, waivers or amendments as described in the applicable prospectus supplement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, under the indentures, the rights
of holders of a series of debt securities may be changed by us and the trustee with the written consent of the holders of at least a majority
in aggregate principal amount of the outstanding debt securities of each series that is affected. However, unless we provide otherwise
in the prospectus supplement applicable to a particular series of debt securities, we and the trustee may only make the following changes
with the consent of each holder of any outstanding debt securities affected:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>reducing the percentage or aggregate principal amount of debt securities, the holders of which are required to consent to any modification,
amendment, supplement or waiver;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>reducing the principal amount of, or premium, if any, or rate of interest on, the series of debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>extending the fixed maturity of the series of debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>extending the time for payment of interest on the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>reducing the redemption or repurchase price of the debt securities or change the time at which the debt securities may or must be
redeemed or repurchased;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>changing the currency of payment of principal of, or premium, if any, or interest on, the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>waiving a default in the payment of principal of, premium, if any, or interest on the debt securities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>voluntarily releasing a guarantor of the debt securities other than in accordance with the indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>reducing the percentage or aggregate principal amount of outstanding debt securities the consent of whose holders is necessary for
waiver of compliance with certain provisions of the indenture or for waiver of certain defaults; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>impairing the right to institute suit for the enforcement of any payment on or after the stated maturity (or, in the case of a redemption,
on or after the redemption date) of the series of debt securities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Defeasance and Discharge; Legal Defeasance
and Covenant Defeasance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The indenture will be discharged
and will cease to be of further effect as to all debt securities issued thereunder, when:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">A. all debt securities that have been
authenticated, except lost, stolen or destroyed debt securities that have been replaced or paid and debt securities for whose payment
money has been deposited in trust and thereafter repaid to us, have been delivered to the trustee for cancellation&#894; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">B. all debt securities that have not been
delivered to the trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise
or will become due and payable within one year and we or any guarantor has irrevocably deposited or caused to be deposited with the trustee
as trust funds in trust solely for the benefit of the holders, cash in U.S. dollars, non-callable government securities, or a combination
thereof, in amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness
on the debt securities not delivered to the trustee for cancellation for principal of, premium on, if any, interest on, the debt securities
to the date of maturity or redemption&#894;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">2. in respect of clause (1)(B) of this
paragraph, no event of default has occurred and is continuing on the date of the deposit (other than an event of default resulting from
the borrowing of funds to be applied to such deposit and any similar deposit relating to other indebtedness and, in each case, the granting
of certain liens to secure such borrowings)&#894;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">3. we or any guarantor has paid or caused
to be paid all sums payable by it under the indenture&#894; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">4. we have delivered irrevocable instructions
to the trustee under the indenture to apply the deposited money toward the payment of the debt securities at maturity or on the redemption
date, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may, at our option at any time, elect to have
all of our obligations discharged with respect to the outstanding debt securities of any series and all obligations of any guarantors
discharged with respect to their guarantees of that series (&ldquo;Legal Defeasance&rdquo;), except for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the rights of holders of outstanding debt securities of the applicable series to receive payments in respect of the principal of,
premium on, if any, interest on, such debt securities when such payments are due from the trust referred to below&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our obligations with respect to the debt securities of the applicable series concerning issuing temporary debt securities, registering
the transfer and exchange of debt securities, replacing mutilated, destroyed, lost or stolen debt securities and maintaining an office
or agency for presentation of debt securities for registration of transfer and exchange or payment and service of notices upon the Company
in respect of the debt securities and the indenture&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the rights, powers, trusts, duties and immunities of the trustee under the applicable indenture, and our and any guarantor&rsquo;s
obligations in connection therewith&#894; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the Legal Defeasance and Covenant Defeasance (as defined below) provisions of the applicable indenture.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, we may, at our option and at any
time, elect to have our obligations and the obligations of any guarantors released with respect to certain covenants to be described in
the applicable indenture (&ldquo;Covenant Defeasance&rdquo;), and thereafter any omission to comply with those covenants will not constitute
a default or event of default with respect to the debt securities of the applicable series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">In order to exercise either Legal Defeasance or
Covenant Defeasance:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>we must irrevocably deposit with the trustee, in trust, for the benefit of the holders of the debt securities of the applicable series,
cash in U.S. dollars, non-callable government securities, or a combination thereof, in amounts as will be sufficient, in the opinion of
a nationally recognized investment bank, appraisal firm or firm of independent public accountants, to pay the principal of, premium on,
if any, and interest on, the outstanding debt securities of the applicable series on the stated date for payment thereof or on the applicable
redemption date, as the case may be, and we must specify whether such debt securities are being defeased to such stated date for payment
or to a particular redemption date&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>in the case of Legal Defeasance, we must deliver to the trustee an opinion of counsel reasonably acceptable to the trustee confirming
that (a) we have received from, or there has been published by, the Internal Revenue Service, or the IRS, a ruling or (b) since the date
of the applicable indenture, there has been a change in the applicable federal income tax law, in either case to the effect that, and
based thereon such opinion of counsel will confirm that, the holders of the outstanding debt securities of the applicable series will
not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal
income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not
occurred&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>in the case of Covenant Defeasance, we must deliver to the trustee an opinion of counsel reasonably acceptable to the trustee confirming
that the holders of the outstanding debt securities of the applicable series will not recognize income, gain or loss for federal income
tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such Covenant Defeasance had not occurred&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>no default or event of default has occurred and is continuing on the date of such deposit (other than a default or event of default
resulting from the borrowing of funds to be applied to such deposit (and any similar concurrent deposit relating to other indebtedness),
and the granting of liens to secure such borrowings)&#894;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material
agreement or instrument (other than the applicable indenture and the agreements governing any other indebtedness being defeased, discharged
or replaced) to which we or any guarantor is a party or by which we or any guarantor is bound&#894; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>we must deliver to the trustee an officers&rsquo; certificate and an opinion of counsel, each stating that all conditions precedent
relating to the Legal Defeasance or the Covenant Defeasance have been complied with.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Form, Exchange and Transfer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will issue the debt securities of each series
only in fully registered form without coupons and, unless we otherwise specify in the applicable prospectus supplement, in denominations
of $1,000 and any integral multiple thereof. Unless we provide otherwise in the prospectus supplement applicable to a particular series
of debt securities, the indentures will provide that we may issue debt securities of a series in temporary or permanent global form and
as book-entry securities that will be deposited with, or on behalf of, The Depository Trust Company or another depositary named by us
and identified in a prospectus supplement with respect to that series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the option of the holder, subject to the terms
of the indentures and the limitations applicable to global securities described in the applicable prospectus supplement, the holder of
the debt securities of any series can exchange the debt securities for other debt securities of the same series, in any authorized denomination
and of like tenor and aggregate principal amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the terms of the indentures and the
limitations applicable to global securities set forth in the applicable prospectus supplement, holders of the debt securities may present
the debt securities for exchange or for registration of transfer, duly endorsed or with the form of transfer endorsed thereon duly executed
if so required by us or the security registrar, at the office of the security registrar or at the office of any transfer agent designated
by us for this purpose. Unless otherwise provided in the debt securities that the holder presents for transfer or exchange, we will impose
no service charge for any registration of transfer or exchange, but we may require payment of any taxes or other governmental charges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will name in the applicable prospectus supplement
the security registrar, and any transfer agent in addition to the security registrar, that we initially designate for any debt securities.
We may at any time designate additional transfer agents or rescind the designation of any transfer agent or approve a change in the office
through which any transfer agent acts, except that we will be required to maintain a transfer agent in each place of payment for the debt
securities of each series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">If we elect to redeem the debt securities of any
series, we will not be required to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>issue, register the transfer of, or exchange any debt securities of that series during a period beginning at the opening of business
15 days before the day of mailing of a notice of redemption of any debt securities that may be selected for redemption and ending at the
close of business on the day of the mailing; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>register the transfer of or exchange any debt securities so selected for redemption, in whole or in part, except the unredeemed portion
of any debt securities we are redeeming in part.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Information Concerning the Trustee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The trustee, other than during the occurrence and
continuance of an event of default under an indenture, undertakes to perform only those duties as are specifically set forth in the applicable
indenture and is under no obligation to exercise any of the powers given it by the indentures at the request of any holder of debt securities
unless it is offered reasonable security and indemnity against the costs, expenses and liabilities that it might incur. However, upon
an event of default under an indenture, the trustee must use the same degree of care as a prudent person would exercise or use in the
conduct of his or her own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Payment and Paying Agents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless we otherwise indicate in the applicable
prospectus supplement, we will make payment of the interest on any debt securities on any interest payment date to the person in whose
name the debt securities, or one or more predecessor securities, are registered at the close of business on the regular record date for
the interest payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will pay principal of and any premium and interest
on the debt securities of a particular series at the office of the paying agents designated by us, except that unless we otherwise indicate
in the applicable prospectus supplement, we will make interest payments by check that we will mail to the holder or by wire transfer to
certain holders. Unless we otherwise indicate in the applicable prospectus supplement, we will designate the corporate trust office of
the trustee in the City of New York as our sole paying agent for payments with respect to debt securities of each series. We will name
in the applicable prospectus supplement any other paying agents that we initially designate for the debt securities of a particular series.
We will maintain a paying agent in each place of payment for the debt securities of a particular series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All money we pay to a paying agent or the trustee
for the payment of the principal of or any premium or interest on any debt securities that remains unclaimed at the end of two years after
such principal, premium or interest has become due and payable will be repaid to us, and the holder of the debt security thereafter may
look only to us for payment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Governing Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The indentures and the debt securities will be
governed by and construed in accordance with the laws of the State of New York, except to the extent that the Trust Indenture Act is applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_007"></A><B>DESCRIPTION OF WARRANTS WE MAY OFFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue warrants to purchase debt securities,
Preferred Stock, Common Stock or any combination of the foregoing. We may issue warrants independently or together with any other securities
we offer under a prospectus supplement. The warrants may be attached to or separate from the securities. We will issue each series of
warrants under a separate warrant agreement to be entered into between a warrant agent and us. The warrant agent will act solely as our
agent in connection with the warrants and will not have any obligations or relationship of agency or trust for or with holders or beneficial
owners of warrants. The following outlines some of the general terms and provisions of the warrants that we may issue from time to time.
When we issue warrants, we will provide the specific terms of the warrants and the applicable warrant agreement in a prospectus supplement
and any related free writing prospectuses and such terms may differ from those described below. To the extent the information contained
in the prospectus supplement differs or free writing prospectuses from this summary description, you should rely on the information in
the prospectus supplement or free writing prospectuses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following description, and any description
of the warrants included in a prospectus supplement, may not be complete and is subject to and qualified in its entirety by reference
to the terms and provisions of the applicable warrant agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Equity Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will describe in the applicable prospectus
supplement and any related free writing prospectuses the terms of the Preferred Stock warrants or Common Stock warrants being offered,
the warrant agreement relating to the Preferred Stock warrants or Common Stock warrants and the warrant certificates representing the
Preferred Stock warrants or Common Stock warrants, including, as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the title of the warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the securities for which the warrants are exercisable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the price or prices at which the warrants will be issued;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>if applicable, the number of warrants issued with each share of Preferred Stock or share of Common Stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>if applicable, the date on and after which the warrants and the related Preferred Stock or Common Stock will be separately transferable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 5.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the date on which the right to exercise the warrants will commence, and the date on which the right will expire;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the maximum or minimum number of warrants which may be exercised at any time;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>information with respect to book-entry procedures, if any;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>a discussion of the material U.S. federal income tax considerations applicable to exercise of the warrants; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any other terms of the warrants, including terms, procedures and limitations relating to the exchange and exercise of the warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise provided in the applicable warrant
agreement and corresponding prospectus supplement or any related free writing prospectuses, holders of equity warrants will not be entitled,
by virtue of being such holders, to vote, consent, receive dividends, receive notice as stockholders with respect to any meeting of stockholders
for the election of our directors or any other matter, or to exercise any rights whatsoever as stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as provided in the applicable warrant agreement
and corresponding prospectus supplement or any related free writing prospectuses, the exercise price payable and the number of shares
of Common Stock or Preferred Stock purchasable upon the exercise of each warrant will be subject to adjustment in certain events, including
the issuance of a stock dividend to holders of Common Stock or Preferred Stock or a stock split, reverse stock split, combination, subdivision
or reclassification of Common Stock or Preferred Stock. In lieu of adjusting the number of shares of Common Stock or Preferred Stock purchasable
upon exercise of each warrant, we may elect to adjust the number of warrants. Unless otherwise provided in the applicable warrant agreement
and corresponding prospectus supplement or any related free writing prospectuses, no adjustments in the number of shares purchasable upon
exercise of the warrants will be required until all cumulative adjustments require an adjustment of at least 1% thereof. No fractional
shares will be issued upon exercise of warrants, but we will pay the cash value of any fractional shares otherwise issuable. Notwithstanding
the foregoing, except as otherwise provided in the applicable warrant agreement and corresponding prospectus supplement or any related
free writing prospectuses, in the event of any consolidation, merger, or sale or conveyance of our assets as an entirety or substantially
as an entirety, the holder of each outstanding warrant will have the right to the kind and amount of shares of stock and other securities
and property, including cash, receivable by a holder of the number of shares of Common Stock or Preferred Stock into which each warrant
was exercisable immediately prior to the particular triggering event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Debt Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will describe in the applicable prospectus
supplement and any related free writing prospectuses the terms of the debt warrants being offered, the warrant agreement relating to the
debt warrants and the debt warrant certificates representing the debt warrants, including, as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the title of the debt warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the aggregate number of the debt warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the price or prices at which the debt warrants will be issued;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 5.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the designation, aggregate principal amount and terms of the debt securities purchasable upon exercise of the debt warrants, and the
procedures and conditions relating to the exercise of the debt warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the designation and terms of any related debt securities with which the debt warrants are issued, and the number of the debt warrants
issued with each security;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the date, if any, on and after which the debt warrants and the related debt securities will be separately transferable;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the principal amount of debt securities purchasable upon exercise of each debt warrant, and the price at which the principal amount
of the debt securities may be purchased upon exercise;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the date on which the right to exercise the debt warrants will commence, and the date on which the right will expire;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the maximum or minimum number of the debt warrants that may be exercised at any time;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>information with respect to book-entry procedures, if any;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>changes to or adjustments in the exercise price of the debt warrants;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>a discussion of the material U.S. federal income tax considerations applicable to the exercise of the debt warrants; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any other terms of the debt warrants and terms, procedures and limitations relating to the exercise of the debt warrants.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As may be permitted under the warrant agreement,
holders may exchange debt warrant certificates for new debt warrant certificates of different denominations, and may exercise debt warrants
at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement and any related
free writing prospectuses. Prior to the exercise of their debt warrants, holders of debt warrants will not have any of the rights of holders
of the securities purchasable upon the exercise and will not be entitled to payments of principal, premium or interest on the securities
purchasable upon the exercise of debt warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exercise of Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each warrant will entitle the holder of the warrant
to purchase for cash at the exercise price provided in the applicable warrant agreement and corresponding prospectus supplement or any
related free writing prospectuses the principal amount of debt securities or shares of Preferred Stock or shares of Common Stock being
offered. Holders may exercise warrants at any time up to the close of business on the expiration date provided in the applicable warrant
agreement and corresponding prospectus supplement or any related free writing prospectuses. After the close of business on the expiration
date, unexercised warrants will be void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders may exercise warrants as described in the
applicable warrant agreement and corresponding prospectus supplement or any free writing prospectuses relating to the warrants being offered.
Upon receipt of payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant
agent or any other office indicated in the applicable warrant agreement and corresponding prospectus supplement or any related free writing
prospectuses, we will, as soon as practicable, forward the debt securities, shares of Preferred Stock or shares of Common Stock purchasable
upon the exercise of the warrant. If less than all of the warrants represented by the warrant certificate are exercised, we will issue
a new warrant certificate for the remaining warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_008"></A><B>DESCRIPTION OF UNITS WE MAY OFFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following description, together with the additional
information we may include in any applicable prospectus supplements and free writing prospectuses, summarizes the material terms and provisions
of the units that we may offer under this prospectus. While the terms we have summarized below will apply generally to any units that
we may offer under this prospectus, we will describe the particular terms of any series of units in more detail in the applicable prospectus
supplement. The terms of any units offered under a prospectus supplement may differ from the terms described below. However, no prospectus
supplement will fundamentally change the terms that are set forth in this prospectus or offer a security that is not registered and described
in this prospectus at the time of its effectiveness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will file as exhibits to the registration statement
of which this prospectus is a part, or will incorporate by reference from a current report on Form 8-K that we file with the SEC, the
form of unit agreement that describes the terms of the series of units we are offering, and any supplemental agreements, before the issuance
of the related series of units. The following summaries of material terms and provisions of the units are subject to, and qualified in
their entirety by reference to, all the provisions of the unit agreement and any supplemental agreements applicable to a particular series
of units. We urge you to read the applicable prospectus supplements related to the particular series of units that we sell under this
prospectus, as well as the complete unit agreement and any supplemental agreements that contain the terms of the units</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue units comprised of one or more shares
of Common Stock, shares of Preferred Stock, debt securities and warrants in any combination. Each unit will be issued so that the holder
of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations
of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the
unit may not be held or transferred separately, at any time or at any time before a specified date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">We will describe in the applicable prospectus supplement the terms
of the series of units, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances
those securities may be held or transferred separately;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any provisions of the governing unit agreement that differ from those described below; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The provisions described in this section, as well
as those described under &ldquo;Description of Capital Stock We May Offer,&rdquo; &ldquo;Description of Debt Securities We May Offer&rdquo;
and &ldquo;Description of Warrants We May Offer&rdquo; will apply to each unit and to any Common Stock, Preferred Stock, debt security
or warrant included in each unit, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Issuance in Series</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may issue units in such amounts and in numerous
distinct series as we determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Enforceability of Rights by Holders of Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each unit agent will act solely as our agent under
the applicable unit agreement and will not assume any obligation or relationship of agency or trust with any holder of any unit. A single
bank or trust company may act as unit agent for more than one series of units. A unit agent will have no duty or responsibility in the
event of any default by us under the applicable unit agreement or unit, including any duty or responsibility to initiate any proceedings
at law or otherwise, or to make any demand upon us. Any holder of a unit may, without the consent of the related unit agent or the holder
of any other unit, enforce by appropriate legal action its rights as holder under any security included in the unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We, the unit agents and any of their agents may
treat the registered holder of any unit certificate as an absolute owner of the units evidenced by that certificate for any purpose and
as the person entitled to exercise the rights attaching to the units so registered, despite any notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_009"></A><B>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may sell the securities from time to time pursuant
to underwritten public offerings, negotiated transactions, block trades or a combination of these methods or through underwriters or dealers,
through agents and/or directly to one or more purchasers. The securities may be distributed from time to time in one or more transactions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>at a fixed price or prices, which may be changed;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>at market prices prevailing at the time of sale;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>at prices related to such prevailing market prices; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>at negotiated prices.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each time that we sell securities covered by this
prospectus, we will provide a prospectus supplement or supplements that will describe the method of distribution and set forth the terms
and conditions of the offering of such securities, including the offering price of the securities and the proceeds to us, if applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Offers to purchase the securities being offered
by this prospectus may be solicited directly. Agents may also be designated to solicit offers to purchase the securities from time to
time. Any agent involved in the offer or sale of our securities will be identified in a prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a dealer is utilized in the sale of the securities
being offered by this prospectus, the securities will be sold to the dealer, as principal. The dealer may then resell the securities to
the public at varying prices to be determined by the dealer at the time of resale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If an underwriter is utilized in the sale of the
securities being offered by this prospectus, an underwriting agreement will be executed with the underwriter at the time of sale and the
name of any underwriter will be provided in the prospectus supplement that the underwriter will use to make resales of the securities
to the public. In connection with the sale of the securities, we or the purchasers of securities for whom the underwriter may act as agent,
may compensate the underwriter in the form of underwriting discounts or commissions. The underwriter may sell the securities to or through
dealers, and those dealers may receive compensation in the form of discounts, concessions or commissions from the underwriters and/or
commissions from the purchasers for which they may act as agent. Unless otherwise indicated in a prospectus supplement, an agent will
be acting on a best efforts basis and a dealer will purchase securities as a principal, and may then resell the securities at varying
prices to be determined by the dealer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any compensation paid to underwriters, dealers
or agents in connection with the offering of the securities, and any discounts, concessions or commissions allowed by underwriters to
participating dealers will be provided in the applicable prospectus supplement. Underwriters, dealers and agents participating in the
distribution of the securities may be deemed to be underwriters within the meaning of the Securities Act of 1933, as amended (the &ldquo;Securities
Act&rdquo;), and any discounts and commissions received by them and any profit realized by them on resale of the securities may be deemed
to be underwriting discounts and commissions. We may enter into agreements to indemnify underwriters, dealers and agents against civil
liabilities, including liabilities under the Securities Act, or to contribute to payments they may be required to make in respect thereof
and to reimburse those persons for certain expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any Common Stock will be quoted on Nasdaq, but
any other securities may or may not be listed on a national securities exchange. To facilitate the offering of securities, certain persons
participating in the offering may engage in transactions that stabilize, maintain or otherwise affect the price of the securities. This
may include over-allotments or short sales of the securities, which involve the sale by persons participating in the offering of more
securities than were sold to them. In these circumstances, these persons would cover such over-allotments or short positions by making
purchases in the open market or by exercising their over-allotment option, if any. In addition, these persons may stabilize or maintain
the price of the securities by bidding for or purchasing securities in the open market or by imposing penalty bids, whereby selling concessions
allowed to dealers participating in the offering may be reclaimed if securities sold by them are repurchased in connection with stabilization
transactions. The effect of these transactions may be to stabilize or maintain the market price of the securities at a level above that
which might otherwise prevail in the open market. These transactions may be discontinued at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We may engage in at the market offerings into
an existing trading market in accordance with Rule 415(a)(4) under the Securities Act. In addition, we may enter into derivative transactions
with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable
prospectus supplement so indicates, in connection with those derivatives, the third parties may sell securities covered by this prospectus
and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by us
or borrowed from us or others to settle those sales or to close out any related open borrowings of stock, and may use securities received
from us in settlement of those derivatives to close out any related open borrowings of stock. The third party in such sale transactions
will be an underwriter and, if not identified in this prospectus, will be named in the applicable prospectus supplement (or a post-effective
amendment). In addition, we may otherwise loan or pledge securities to a financial institution or other third party that in turn may sell
the securities short using this prospectus and an applicable prospectus supplement. Such financial institution or other third party may
transfer its economic short position to investors in our securities or in connection with a concurrent offering of other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The specific terms of any lock-up provisions in
respect of any given offering will be described in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The underwriters, dealers and agents may engage
in transactions with us, or perform services for us, in the ordinary course of business for which they receive compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_010"></A><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Unless otherwise indicated in the applicable prospectus
supplement, certain legal matters relating to the issuance and sale of the securities offered hereby will be passed upon for us by Stoel
Rives LLP. Any underwriters, dealers or agents will also be advised about the validity of the securities and other legal matters by their
own counsel, which will be named in the prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_011"></A><B>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The audited consolidated financial statements of
Mawson Infrastructure Group Inc. and its subsidiaries, as of and for the years ended December 31, 2024 and 2023 included in this prospectus,
and elsewhere in the registration statement on Form S-3 have been so included in reliance upon the report of Wolf &amp; Company, P.C.,
independent registered public accountants, upon the authority of said firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_012"></A><B>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We file annual, quarterly and current reports,
proxy statements and other information with the SEC. The SEC maintains a website that contains annual, quarterly, and current reports,
proxy statements, and other information that issuers (including us) file electronically with the SEC. The SEC&rsquo;s website address
is http://www.sec.gov. You can also obtain copies of materials we file with the SEC from our website found at https://mawsoninc.com/.
Information contained on or accessible through our website does not constitute part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus and any prospectus supplement
are part of a registration statement that we filed with the SEC and do not contain all of the information in the registration statement.
The full registration statement may be obtained from the SEC or us, as provided below. Forms of the indenture and other documents establishing
the terms of the offered securities are or may be filed as exhibits to the registration statement or documents incorporated by reference
in the registration statement. Statements in this prospectus or any prospectus supplement about these documents are summaries and each
statement is qualified in all respects by reference to the document to which it refers. You should refer to the actual documents for
a more complete description of the relevant matters. You may inspect a copy of the registration statement through the SEC&rsquo;s website,
as provided above.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_013"></A><B>INCORPORATION BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The SEC&rsquo;s rules allow us to &ldquo;incorporate
by reference&rdquo; information into this prospectus, which means that we can disclose important information to you by referring you to
another document filed separately with the SEC. The information incorporated by reference is deemed to be part of this prospectus, and
subsequent information that we file with the SEC will automatically update and supersede that information. Any statement contained in
this prospectus or a previously filed document incorporated by reference will be deemed to be modified or superseded for purposes of this
prospectus to the extent that a statement contained in this prospectus or a subsequently filed document incorporated by reference modifies
or replaces that statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This prospectus and any accompanying prospectus
supplement incorporate by reference the documents set forth below that have previously been filed with the SEC (but excluding any information
in such documents that has been furnished to, rather than filed with, the SEC):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD STYLE="text-align: justify">our Annual Report on <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000101376225004161/ea0234332-10k_mawson.htm">Form 10-K</A> for the fiscal year ended December
31, 2024, as filed with the SEC on March 28, 2025, as amended by Amendment No. 1 to our Annual Report on <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025037716/ea0239882-10ka1_mawson.htm">Form 10-K/A</A> for the fiscal year
ended December 31, 2024, filed with the SEC on April 30, 2025;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD STYLE="text-align: justify">our Quarterly Reports on Form 10-Q for the fiscal quarters
ended March 31, 2025, as filed with the SEC on<A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025044350/ea0241310-10q_mawson.htm"> May 15, 2025</A>, and June 30, 2025, as filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025076634/ea0252143-10q_mawson.htm">August 14, 2025</A>;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>our Current Reports on Form 8-K and Form 8-K/A, as applicable, filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025063693/ea0248816-8k_mawson.htm">July 14, 2025</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025066102/ea0249634-8ka1_mawson.htm">July 21, 2025</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025067736/ea0250229-8k_mawson.htm">July 25, 2025</A>,
<A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025069269/ea0250670-8k_mawson.htm">July 30, 2025</A> and <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390025074951/ea0252576-8k_mawson.htm">August 12, 2025</A> (excluding information furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits filed on such
form that are related to such items); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman">&#9679;</FONT></TD><TD>the description of the Common Stock contained in the Company&rsquo;s registration statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390021050217/ea148019-8a12b_mawsoninfra.htm">Form 8-A</A>, filed with the SEC on September
28, 2021, and all amendments or reports filed for the purpose of updating such description, including <A HREF="https://www.sec.gov/Archives/edgar/data/1218683/000121390023022430/f10k2022ex4-2_mawson.htm">Exhibit 4.2</A> of the Company&rsquo;s
Annual Report on Form 10-K for the fiscal year ended December 31, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All other reports and documents filed by the Company
pursuant to Sections 13(a), 13(c), 14 and/or 15(d) of the Exchange Act (other than Current Reports furnished under Item 2.02 or Item 7.01
of Form 8-K and exhibits furnished on such form that relate to such items), including those made after the date of the initial filing
of the registration statement of which this prospectus is a part and prior to effectiveness of such registration statement, shall be deemed
to be incorporated by reference into this prospectus and to be a part hereof from the date of filing such reports and documents with the
SEC until we file a post-effective amendment that indicates the termination of the offering of the securities made by this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this prospectus to the extent
that a statement herein or in any subsequently filed document that also is or is deemed to be incorporated by reference herein modifies
or supersedes such statement. Any such statement so modified or superseded shall not constitute a part of this prospectus, except as so
modified or superseded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You may request, and we will provide you with,
a copy of these filings, at no cost, by calling us at (412) 515-0896 or by writing to us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Mawson Infrastructure Group Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Attention: Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">950 Railroad Ave., Midland, Pennsylvania 15059</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Exhibits to the filings will not be sent, however, unless those exhibits
have specifically been incorporated by reference in this prospectus or any accompanying prospectus supplement.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MAWSON INFRASTRUCTURE GROUP INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Up to $9,600,000</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Prospectus Supplement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 16pt"><B>H.C. Wainwright &amp; Co.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October 17, 2025</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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